Romania's central bank holds benchmark rate at 7.00%

BUCHAREST, May 10 (Reuters) - Romania's central bank kept its benchmark interest rate unchanged at 7.00%, as expected, on Wednesday and reiterated it saw inflation falling to a single-digit rate by the third quarter. The bank said a slowdown in economic activity in the first and second quarters would be modest.

It added that lower commodity prices and short-term inflationary expectations fully countered the gradual pass-through of increased costs of materials and wages into consumer prices in the first quarter. Most analysts polled by Reuters this month had expected the unchanged decision.

Borrowing costs are seen on hold throughout 2023 before falling to 6.5% by the end of the first quarter of next year. (Reporting by Luiza Ilie; Editing by Jason Hovet)

Reuters

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off-the-wire

Romania&apos;s central bank holds benchmark rate at 7.00%

By Reuters

Reuters

Reuters

Romania's central bank holds benchmark rate at 7.00%