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Romanian Mar Pvt Lending +53.1% YY At RON164.6B

Romanian private lending rose 53.1% on the year in March in real terms to 164.6 billion lei ($68.5 billion), due to higher loans in both leu and foreign currencies, the country’s central bank said Wednesday.
Romanian Mar Pvt Lending +53.1% YY At RON164.6B
23 apr. 2008, 11:03, English

On the month, private lending rose 3.3% in March in real terms, slower than the 4.1% monthly rise in February.

Private lending in euros rose 69.9% on the year in March, and 4.1% on the month in real terms, while local currency lending rose 33.7% on the year, and 3.1% on the month in March the bank said.

In February, the central bank raised its main lending rate by 50 basis points to 9.5% to curb surging inflation, which started to spike in 2007 driven by a low farming output and high lending.

Romania’s annual inflation rate accelerated to a higher-than-expected 8.63% in March, its highest level since January 2006.