off-the-wire

Romania's central bank holds benchmark rate at 7.00%

Kitco Media
By Reuters
Published:
Updated:
Reuters
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)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.