Romania's central bank is likely to keep its key interest rate at 6.5 percent for several more quarters, according to Deputy Governor Cosmin Marinescu, who says the country is on track to set a European record for prolonged monetary policy stability. The benchmark rate has been held at that level since August 2024.
In an analysis published on his website, Marinescu said the steady course of monetary policy is expected to extend beyond the current period. He described the situation as a «European record» for stationary monetary policy, a phrase that underlines how long the rate has remained unchanged in a single stretch.
The comments come at a time when Romanian policymakers are weighing the balance between controlling inflation and supporting economic activity. A rate held steady for more than two years signals that the National Bank of Romania sees no immediate case for either tightening or easing, and that it is prepared to wait for clearer evidence before changing course.
For borrowers, the message points to a prolonged period in which borrowing costs tied to the central bank's benchmark stay elevated. Households with variable-rate mortgages and businesses that rely on bank credit are therefore unlikely to see relief from policy rate cuts in the near term, while savers continue to benefit from the higher rate environment.
The central bank's stance is also relevant to the broader business climate. Economic groups in Romania have been pressing the government on competitiveness and investment, and stable monetary conditions are one factor that companies consider when planning capital spending. A predictable policy environment can help firms set budgets, though the high cost of credit remains a constraint for many of them.
Marinescu's remarks should be read in the context of the central bank's stated priorities, which centre on bringing inflation back to target in a durable way. Holding the rate steady rather than moving it up or down reflects a judgment that the current setting is consistent with that goal, and that further changes would depend on how inflation and wages develop in the coming quarters.
The deputy governor's analysis did not set out a timetable for any future move, and he did not signal a decision date. What he has made clear is that the central bank expects the current stance to persist for some time, and that Romania is on course to record an unusually long episode of unchanged policy compared with its European peers.