Romania’s central bank BNR raised its benchmark interest rate one point, the third consecutive increase, as inflation threatens to accelerate and the local currency weakens. The central bank increased its Monetary Policy Rate to 9 percent, the highest since 2005, from 8 percent, the bank said in an announcement today.
Romanian agricultural firm Interagro and aluminium investment group Vimetco, owner of aluminium producer Alro Slatina, will partner to build a 1,000 MW coal-fired power plant in Turnu Magurele, Teleorman county. The power plant will cost over one billion Euro and is expected to be operational by 2012. Part of the electricity generated will be used […]
Romania’s gross domestic product (GDP) will grow by a real 6.0% while inflation will slow down to 4.5% in 2009 versus respective estimates of 6.1% and 5.4% this year, Romania’s Banca Comerciala Romana (BCR) said.