January 8, 2018 / 11:48 AM / a year ago

Romania central bank delivers surprise key rate hike to 2.0 pct

BUCHAREST, Jan 8 (Reuters) - Romania’s central bank delivered its first benchmark interest rate hike in a decade on Monday, raising it by a quarter point to 2.00 percent, with inflation already above its 2017 forecast.

Five analysts polled by Reuters had expected policymakers to stay on hold, while four expected a quarter point increase. The median forecast for the key rate at the end of this year is 2.75 percent.

Monday’s move would also boost the bank’s deposit and lending facility rates to 1.0 percent and 3.0 percent, from 0.75 and 2.75 percent respectively.

Governor Mugur Isarescu is expected to provide details on the decision from 1300 GMT. (Reporting by Luiza Ilie; Editing by Radu Marinas)

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