The BNR decided to maintain the monetary policy interest rate at the level of 6.50 percent per year. The decision is influenced by inflation
The Board of Directors of the National Bank of Romania (BNR), meeting on Friday, May 15, decided to maintain the monetary policy interest rate at the level of 6.50% per year, informs the central bank.
National Bank of Romania PHOTO: The truth
The annual inflation rate interrupted its slow downward trajectory in March 2026, increasing to 9.87 percent, from 9.31 percent in February, as a result of the significant rise in fuel prices in the context of the war in the Middle East, the National Bank of Romania says in a press release.
Practically, it was counterbalanced to a small extent by the minor decreases in dynamics recorded in the energy and administered price segments, as well as in the level of core inflation.
The members of the BNR Council also decided to maintain the interest rate for the lending facility (Lombard) at 7.50% per annum and the interest rate for the deposit facility at 5.50% per annum, as well as maintaining the current levels of the mandatory minimum reserve rates for liabilities in lei and in foreign currency of credit institutions, according to the BNR.
In April 2026, the annual inflation rate rose to 10.71 percent, mainly as a result of the significant dynamic increases recorded in the natural gas, fuel and administered price segments, under the influence of unfavorable base effects and the rise in the price of oil, which was joined by the impact of the considerable increase in rents for state housing, the BNR also states.
“Based on assessments and available data at this moment, as well as in the conditions of high uncertainties, the Board of Directors of the NBR decided in today's meeting, May 15, 2026, to maintain the monetary policy interest rate at the level of 6.50 percent per year. At the same time, it was decided to maintain the interest rate for the credit facility (Lombard) at 7.50 percent per year and the interest rate for the deposit facility at 5.50 percent per year. Also, the Board of Directors of the NBR decided to maintain the current levels of the mandatory minimum reserve ratios for liabilities in lei and in foreign currency of credit institutions”the BNR press release states.
According to the BNR, the annual inflation rate will, however, experience a substantial downward correction in the third quarter of 2026, once the direct effects of the removal of the ceiling on the price of electricity and the increase in VAT rates and excise duties have been exhausted.
