Romania Kicks Off New Year With 2021’s First Rate Cut

(Bloomberg) -- Romania unexpectedly lowered borrowing costs to provide further support to its coronavirus-stricken economy, giving the world its first rate cut of 2021. The central bank reduced the benchmark to a record low of 1.25% at an unscheduled meeting on Friday, the fourth reduction since the pandemic took hold. That still leaves Romania’s rate higher than any other in the European Union.

©2021 Bloomberg L.P.