The central bank also raised the interest rate for its deposit facility to 5.75% a year from 5.25% a year and the interest for its (Lombard) lending facility to 7.75% a year from 7.25% a year, as of November 9, it said in a statement.
The bank also decided to keep a tight grip on money market liquidity and to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.
In the previous monetary policy meeting in October, Romania’s central bank raised the key rate by 0.75%, from 5.5% to 6.25%, after having raised it by 0.75% in August, as well, to 5.5% from 4.75% a year. In July 2022, the central bank increased its key rate by one percentage point to 4.75% a year from 3.75% a year previously.
(English version by Loredana Fratila-Cristescu)