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Romania’s Sep Pvt Lending +40.2% YY To RON194.17B

Romanian private lending rose 40.2% on the year in September in real terms to 194.17 billion lei (EUR1=RON3.6140), an acceleration compared with the annual rise of 39.2% in August, the central bank said in a statement Thursday.
Romania’s Sep Pvt Lending +40.2% YY To RON194.17B
23 oct. 2008, 13:46, English

In September, the lending rise was driven by higher loans in both local and foreign currency, the central bank said.

Private lending rose by 5.3% in real terms in September, compared with a monthly rise of 2.9% in August.

Private lending in foreign currency rose 47.3% on the year in September and 2.9% on the month in real terms, while local currency lending rose 26.9% on the year and 1.8% on the month in September, the bank said.

Annual inflation slowed to 7.3% in September, from 8.02% in the previous month on the year in August, and analysts say this might go down to 7%-7.1% by the end of the year.

The central bank has hiked interest rates by 325 basis points in seven consecutive sessions since October 2007, in a bid to curb surging inflation, which began last year, driven by a low farming output and a lending boom spurring consumption.
The central bank will hold its next meeting dedicated to monetary policy on October 30.