Previously the Bank also cut the rate 25 basis points in November, prior to that its last move was a 25 basis point cut in May 2010. Romania reported annual consumer price inflation of 3.44% in November, compared to previous readings of 3.45% in September, 4.25% in August, 4.85% in July, 7.9% in June, 8.4% in May and 8.3% in April 2011, and now within the Bank's inflation target range of 3% plus or minus 1%.
The Romanian economy expanded 1.8% in Q3 2011 (0.2% in Q2), placing annual growth at 2.6% (0.3% in Q2). Romania's currency, the Romanian Leu (RON), has weakened about 3% against the US dollar in 2011, while the USDRON exchange rate last traded around 3.40. The Banca Nationala a Romaniei next meets on the 2nd of February 2012.