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ING: Romania Set To Hike 75bps Today

CEE
  • ING expects the National Bank of Romania (NBR) will raise its interest rate by 75bp to 4.50% today.
  • However, recent meeting results in the Czech Republic and Hungary and inflationary developments increase the chances that we could see a bolder move.
  • In addition, the National Bank of Poland will be meeting tomorrow, so this may also weigh in favour of a bigger move by the NBR today to avoid looking like it is behind its peers.
  • Indeed, Romania has the lowest interest rates in the region, while inflation reached 14.5% year-on-year in May and is very likely to exceed 15% in June, which should be the peak.

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