Monetary policy has withstood political pressures. The Romanian central bank has hiked rates to anchor inflation expectations and help defuse overheating risks amid a booming economy spurred by an expansionary fiscal environment. Risks to institutional settings are building as political efforts to interfere with the independence of the judiciary intensify. Such interference could dismantle important checks and balances in a corruption-prone environment and deter foreign investors. We are affirming our 'BBB-/A-3' long- and short-term sovereign credit ratings on Romania. The outlook is stable. On Aug. 31, 2018, S&P Global Ratings affirmed its 'BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on Romania. The outlook is stable. The stable outlook reflects our opinion that--although Romanian politics remains turbulent
