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

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

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.

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