Moody’s: Romania’s key rate high enough to contain inflation

“However, the decision belongs to Romania’s National Bank and depends on economic conditions,” he said.

Hor Nung is Vice President and Senior Analyst on the country risk segment of Moody’s in Germany.

Since October 2007, BNR increased the key interest rate five times in a row, from 7 to 9.75 percent.

Annual inflation tempered last month, at 8.46 percent, from its 8.63 percent peak in March.

Concerning the rapid rhythm of growth of loans in Romania, which is one of the main concerns of rating agencies in terms of stability of the Romanian