The central bank also maintained the minimum reserve requirements unchanged at 15% for Romanian leu-denominated liabilities and at 20% for foreign currency liabilities.
Romanian consumer prices rose 1.18% on the month in September, the biggest increase since July 2010. Annual inflation jumped to this year’s high of 5.33%, from 3.88% a month earlier.
The higher inflation “mainly reflected transitory unfavorable effects stemming from domestic and global food prices, which widened existent adverse statistical base effects and the impact of a weakening leu,” the central bank said in a detailed report later today.
The bank has examined and approved its quarterly inflation report, due for release on November 7.
Following the higher-than-anticipated inflation in September, the central bank expects the annual rate will be forced outside the target range until the second half of 2013.
“The main risks associated with the new forecast relate to a potential increase in capital flow volatility, amid a possible deterioration of the external environment that would have negative consequences on emerging economies,” the central bank said.
The upcoming parliamentary elections in December could also add to the inflationary pressure, it added.
The central bank targets an annual inflation of 2-4% at the end of 2012 and of 1.5-3.5% for 2013.