Romania Interest Rate

The National Bank of Romania kept its benchmark rate at 6.50% on November 12, marking the tenth consecutive pause and matching expectations. The move aims to ensure price stability while supporting growth. Inflation edged up to 9.88% in September from 9.85% in August, as higher fuel, energy, and non-food prices offset declines in food and tobacco. The NBR expects inflation to ease gradually but remain above earlier forecasts due to the end of the electricity price cap and recent tax hikes. The labor market showed slight job losses and a small dip in unemployment to around 6%, while wage growth stayed strong. Policymakers highlighted fiscal uncertainty under the EU’s structural plan and external risks tied to trade tensions, the war in Ukraine, and EU investment priorities. The bank underscored the need to absorb EU funds to offset fiscal tightening and support reforms.