2026.04.0712:30:07UTC+00NBR Keeps Rates Steady in March

The National Bank of Romania left its key policy rate unchanged at 6.50% at its meeting on April 7, 2026, while maintaining the lending (standing credit) facility rate at 7.50% and the deposit facility rate at 5.50%.

Annual inflation eased to 9.31% in February from 9.69% in December 2025, mainly reflecting lower electricity and natural gas prices, partly offset by higher fuel and administered prices. Core inflation also moderated, slipping to 8.3% in February from 8.5% in December.

Economic activity weakened, with GDP contracting by 1.9% in the fourth quarter of 2025 and annual growth slowing sharply to 0.2%, down from 1.7% in the third quarter. Although employment declined, the ILO unemployment rate fell in both January and February.

The NBR projects that inflation will climb through June 2026, driven by higher oil and natural gas prices, before falling markedly in the third quarter. Ongoing geopolitical tensions in the Middle East and the global energy crisis continue to pose significant risks to both growth and inflation.

The central bank reaffirmed its readiness to adjust its policy stance as necessary to safeguard medium-term price stability.