Romania Tasso Di Interesse

The National Bank of Romania (NBR) reduced its benchmark interest rate by 25 basis points to 6.5% during its August 2024 meeting, matching market expectations and marking the second consecutive rate cut. The decision aims to bolster price stability and sustainable economic growth. The inflation rate dropped to 4.94% in June 2024 from 5.12% in May, primarily due to declines in core inflation and fuel prices, though slightly offset by higher natural gas prices. Additionally, the core inflation rate fell more rapidly than anticipated, reaching 5.7% in June, driven by disinflationary base effects and lower commodity prices. Meanwhile, Economic activity increased by 0.7% in Q1 2024, though GDP growth slowed to 0.5%. Retail and motor vehicle sales rose in April-May, and manufacturing output saw a modest recovery. On the downside, employment sharply contracted in May, and the unemployment rate climbed to 5.5% in Q2.