Romania in new rate hike to battle inflation

Food

Romania’s central bank Tuesday raised its key lending rate to 9.75% from 9.5%, seeking to fight inflation with the fifth consecutive hike since October.

Reserve requirements for commercial banks were kept unchanged, a central bank statement said. In March, inflation in Romania rose to an annual pace of 8.6%, the highest in two years and well above the central bank’s latest 2008 target of 5.9%. The nation joined the European Union last year and has attracted foreign investment in banking, retailing and industry, where wages remain among Europe’s lowest. But a consumer credit boom, a steep rise in government spending and upward pressure on wages have combined with high global food and energy prices to fuel inflation. (m&c.com)

ADVERTISEMENT

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga Analysis

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.