The National Bank of Romania held its benchmark interest rate steady at 6.50% in its first policy meeting of 2026, marking the eleventh consecutive pause and in line with market expectations. Headline inflation edged down to 9.7% in December but remains well above the central bank’s target range of 1.5–3.5%, with core inflation continuing to rise. Inflation is expected to decline gradually in early 2026, influenced by food and commodity prices, base effects, and one-off factors. GDP growth rebounded to 1.7% year-on-year, supported by investment, private consumption, and net exports, though domestic demand remains weak. The unemployment rate rose to 6.1% in Q3 2025 and fell slightly in October–November, while employment continued to decline. The National Bank of Romania decided to keep the policy rate unchanged to safeguard medium-term price stability without adding further stress to the economy.
