Romania's central bank sets 7.50% yearly reference rate for December

The reference rate went up to 7.50 percent per year in December, a release by the Central Bank of Romania reads. The reference rate in November stood at 7 percent. BNR's decision is in line country's recent macroeconomic and monetary evolutions.

The reference rate is calculated taking into account the volume of transactions and the interest rates on BNR's deposit-taking and reverse-repo operations in the month prior to the announcement.

BNR revised upwards the yearly inflation for December, to 5.7 percent, following a worldwide hike in food prices which was not tempered by imports and which affected Romania.

The increase prompted BNR to increase the monetary policy interest rate from 7 to 7.5 percent.

The Money Channel