Ten analysts out of 14 questioned by Reuters in early March expected BNR to increase the rate. Most of them forecast a 0.5 percentage point rise. They say such a decision would be prompted by excessive demand and inflationary pressure on the national currency RON. Rising the interest is a measure to target inflation as inflation rose to 8% in February and forecasts say it would reach 8.3% in March.
Votes have eqal value within the BNR board, so a decision may be taken with five votes against four. The board is formed by nine members named by the Parliament for a five year period. They cannot be MPs or members of a political party, or be members of the judiciary or the public administration.
The current board started its term in 2004. Four of the members represent the Central Bank - the governor, the first deputy governor and to deputy governors. Five others come from business and academic field.
Current members of the board:
- Governor Mugur Isarescu (serving since September 1990)
- First deputy governor Florin Georgescu (since 2004)
- Deputy governor Eugen Dijmarescu (since 2004)
- Deputy governor Cristian Popa (second term)
- Member Maria Ene
- Member Agnes Nagy
- Member Napoleon Pop
- Member Silviu Cerna
- Member Virgil Stoenescu.
