World News: 14:59 GMT Wednesday 15th May 2019. [Yahoo Business News Feed via SPi World News]
Romania extended its era of steady borrowing costs to a year as the central bank vowed to further tighten control of money-market liquidity in its battle with surging inflation. The central bank has stood pat following three hikes in early 2018, and once again left its benchmark rate at 2.5% on Wednesday, as economists predicted. “We’re seeing rising inflationary pressures from internal demand and wages, as well the impact of new taxes,” Governor Mugur Isarescu said, adding that inflation will remain above the target band in the next three quarters.
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