Romania's central bank announced today its first hike in interest rates since 2008, as inflation picks up and the economy expands at one of the fastest paces in Europe.
The BNR central bank said it has lifted its benchmark interest rate to 2.0 per cent from 1.75 per cent, the first increase since August 2008.
Inflation in Romania hit 4.4 per cent in November and the European Union country's economy expanded at an annual rate of 8.8 per cent in the third quarter.
The move created some surprise, having been predicted by just five out of 15 economists in a Bloomberg News survey.
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