November 8, 2022 UPDATE

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Newsroom, 08.11.2022, 20:30

BANK Romania’s Central Bank (BNR) has
again raised the annual key interest rate from 6.25 to 6.75%, the highest level
in the past 12 years, since March 2010. The Bank has resorted to the move after
the latest price hikes in electricity and food, brought the inflation rate in
September up to almost 16% over the level initially forecast. Prices slightly
decreased thanks to a drop in the oil price, says the BNR, which expects the
economic activity to stall in the last months of this year. The Central
European Bank and the US Federal Reserve have also decided to raise interest
rates in an attempt to keep inflation at bay.

VISIT Croatia and Romania are very much
alike from the political and national points of view, the president of the
Croatian Parliament Gordan Jandrokovic said on Tuesday. In the speech he
delivered before the Romanian Parliament, the Croatian official said that both
countries are focusing on a full European integration by joining the
border-free area of Schengen and by getting membership in the Organisation for Economic
Cooperation and Development. In turn the president of the Chamber of Deputies,
Marcel Ciolacu said the two countries are supporting each other at both the
European and bilateral levels. During his formal visit to Romania, Goran
Jandrokovic also met the interim Senate president Alina Gorghiu. Romanian Prime
Minister Nicolae Ciuca and Gordan Jandrokovic have tackled the potential of
bilateral cooperation between the two countries and have reiterated the joint
commitment to staying close to Ukraine and supporting the Republic of Moldova. According
to the central state bureau in Zagreb, there over six thousand Croatians in
Romania, while 5,408 people in Romania have identified as being Croatians at
the census in 2011.

CLIMATE The 2022 UN
Climate Change Conference continues in Sharm-el-Sheikh, Egypt. World leaders are under pressure to
strengthen their commitment to combating global warming and providing financial
support to poor countries, which are suffering the most. The President of
Romania, Klaus Iohannis, has said that Bucharest supports the leadership role
assumed by the European Union in terms of limiting these changes and the joint
commitment to reducing net greenhouse gas emissions. A report published today
and commissioned by the presidency of the COP (Conference of the Parties to the
United Nations Framework Convention on Climate Change) shows that southern
countries will need more than 2000 billion dollars a year, until 2030, to
finance their climate actions, of which almost half from foreign investors.

DAY Orthodox
believers in Romaniaon Tuesday celebrated
the Saints Archangels Michael and Gabriel, known as the leaders of the
celestial armies and guides of souls to Heaven. Almost 1.5 million Romanians
celebrate their name on November 8th. In Romania, about 633 thousand women and over
821 thousand men bear the name of Gabriel/Gabriela or Mihai/Mihaela or their
derivatives.

(bill)