Energy price were sent to food, while services felt less of a shock, being less intensely energetic, while the National Bank of Romania ( BNR) is trying to counteract these “second round effects”, Cristian Popa, a member in the BNR Administration Board wrote on his Facebook page. “Inflation pressures remain ample, this time behind the inflation evolution there were food products, energy prices were practically sent to food, while services felt the shock less, being less energetically intensive. The transmission rate, the influence of energy price increase in the rising price of food, is very rapid and strong. Maybe only the exchange rate can have a higher transmission rate than energy prices. BNR is trying to counteract these second round effects, generated by energy prices, through a certain stability of the exchange rate. Higher interest rates help us for exchange rate stability. If we are at less than half the inflation rate with interest rates and with monetary policy interest rates lower than in Hungary, Poland and Czech Republic. Second round effects will continue and BNR, knowing that monetary policy cannot stop the energy crisis or military conflict, has increased the interest rate by 0.5%,” Popa wrote. He mentioned that measures were taken by the book. BNR began in sprung last year by stopping the purchase of state bonds, the firm control of cash flow and rising interest rates. “Measures will continue, they have to. Moreover, economic growth is losing down, positive gap is closing, reducing inflation pressures from demand. We have a major problem, which we know is difficult to solve I the middle of a major crisis (pandemic and war at the border): we have two major deficits. These are the fundamental problems. We entered pandemic with the biggest deficits, and we are getting out of it in the same way,” Popa showed. The annual inflation rate went up to 10.15% in March 2022, from 8.53% in February, in conditions in which non-food products were more expensive by 10.86%, foodstuff by 11.20% and services by 6.53%, according to data supplied by the National Statistics Institute on Tuesday.
One United Properties, the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the signing of a new lease agreement for the relocation of Cencora Romania’s headquarters within One Cotroceni Park, the most modern business ecosystem in Bucharest. Cencora is a global leader in pharmaceutical solutions, dedicated to improving […]
The investment includes the modernization of the production unit in Crevedia and the launch of PIUA, Maidan’s first premium spreadable product range, responding to the growing demand in the ready-to-eat market. Maidan, a company active in corporate and private event catering, industrial catering and the development of its own gastronomic products, announces a total investment […]
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the signing of a new lease agreement for the relocation of Cencora Romania’s headquarters within One Cotroceni Park, the most modern business ecosystem in Bucharest. Cencora is a global leader in pharmaceutical solutions, dedicated […]
Unanimously adopted, the Nordis Law marks a decisive moment for Romania’s residential market. It introduces a set of rules designed to protect buyers, hold developers accountable, and reduce speculative risks, with a strong focus on transparency and stability. Under the new legislation, the reservation fee cannot exceed 5% of the property value, reservation contracts cannot […]
Via Dobrogeana, a planned trail covering the southeastern part of the country, aims to offer travelers the opportunity to explore the region's cultural and ethnic diversity. The trail will be about 850 km long, stretching from the 17th-century Sfânta Precista Monastery in Galați to Ialomița County. Via Dobrogeana will be a mixed route. In addition […]
Police and prosecutors carried out 25 searches in Romania and Italy on Tuesday, November 18, aiming to dismantle a group made up of four families, who allegedly sexually exploited, mainly in Italy, more than 30 victims. After the searches, 19 people were detained, and two others were placed under judicial control for forming an organized […]
