More than half of the inflation registered in December 2021 is attributed to the direct effects of energy prices, says Cristian Popa, Board Member of BNR (National Bank of Romania), in an article which will be published on the BNR's Opinion blog."Romania cannot afford to remain out of global tendencies without being penalized by financial markets with pressure on the exchange rate and in general by higher inflation pressures. It must be said that there are prices that cannot be controlled by BNR: such as gas prices, electricity or those administered (ticket fare or cigarettes' prices, for example), and the central bank cannot lead a war, because its instruments have very little influence, towards none, upon these prices. But it also cannot abstract from them," Cristian Popa showed, in an article "Fight against continuous inflation".He said that the bill for inflation will be paid by increasing prices for goods and services, it is mainly paid by those with fixed income which does not quickly adjust upwards, but also by those who have savings or monetary holdings, "under the mattress" or in fixed income instruments.Cristian Popa says that inflation can become destructive, if allowed to get out of control or to reach high levels, but says that the good news is that the central banks have a treatment for inflation, which is increasing interest rate, meaning making money more expensive.In his opinion, the wages-prices spiral represents a clear example of not being in touch: if the public no longer believes that the central bank will handle inflation, they will ask for salary adjustments which will include their expectations, higher, for inflation, and added that relaxed or too relaxed fiscal policies can have an inflationary character.
Romanian tennis player and women’s former world no. 1 Simona Halep said that she decided to withdraw from the Australian Open due to knee and shoulder pain felt after playing in Abu Dhabi. She had received a wild card for the qualifiers of the Australian Open, the first Grand Slam tournament of 2025. “After discussing […]
Over 1.3 million visitors, including Bucharest residents and tourists from around the world, rediscovered the magic of Christmas at the Romanian capital’s main holiday event, held from November 29 to December 26 in Constituției Square. Organized by the City Hall of Bucharest through CREART – the Center for Creation, Art, and Tradition, the event was […]
Romania is set to close more than 30 border crossing points starting January 1, 2025, following its full accession to the Schengen Area, which entails the removal of internal border checks. The decision was announced in a government decision project published by the Ministry of Internal Affairs and quoted by Libertatea.ro. ...
Metrorex, the operator of the subway network in Bucharest, has proposed a fare increase starting January 1, 2025. Under the new plan, the cost of a single trip would rise from the current RON 3 to RON 5, while the monthly subscription would increase from RON 80 to RON 100, according to a draft order […]
More than 500,000 Romanians are celebrating their name day on Friday, December 27, coinciding with the feast of Saint Stephen, according to data from the Directorate for Personal Records quoted by News.ro. Among them, 364,444 men and 155,791 women...
On Monday, December 23, Romanian police brought Nica Robert Florin back to the country. The man convicted of possession of high-risk drugs, bodily harm, and driving under the influence of alcohol, is listed among Romania’s Most Wanted category and was also wanted internationally. Romanian authorities revealed at the beginning of October that they had indications […]
