National Bank of Romania Holds Interest Rate at 6.5%

The National Bank of Romania decided during its Board meeting on August 10, 2026, to maintain its key benchmark interest rate at 6.5% per year. This decision keeps borrowing costs steady as the bank monitors the country's monetary policy and inflation trends.

While the bank expects headline inflation to drop sharply during the third quarter following double-digit rates in the second quarter, officials warned of "notable uncertainties and risks". These risks include crude oil price volatility and food and electricity price spikes caused by a severe drought. The bank also cited concerns regarding the domestic political situation and the budgetary consolidation measures required by the European Commission's excessive deficit procedure.

Current projections from the bank suggest inflation will reach 5.5% by the end of the year, though analysts at Erste Group project a slightly higher rate of 5.9%. The National Bank of Romania is scheduled to release an updated quarterly Inflation Report on August 13.