NBR keeps key interest rate at 6.5% / Inflation rose to 6.94% in October

On Thursday, November 12, 2026, the NBR decided to maintain the monetary policy interest rate at 6.50% per year, as annual inflation rose to 6.94% in October, mainly due to increases in fuel prices and volatile food prices.

The NBR Board also kept the interest rate on the lending facility at 7.50% and the interest rate on the deposit facility at 5.50%. The minimum reserve requirement ratios for liabilities in lei and foreign currency remained unchanged.

The central bank estimates that inflation will rise slightly in the final months of the year, amid increases in energy and fuel prices and exchange rate developments of the leu against the euro. Subsequently, the annual rate is expected to decline gradually and return to the target range in the first quarter of 2028.

The NBR warns that the main risks stem from energy prices, the conflict in the Middle East, the energy crisis, fiscal consolidation, and developments in the European economy. The Board emphasizes the importance of European funds and structural reforms in supporting the economy.