BVB loses some €1 bln on first trading day

While the stock market dropped by 2.17 percent, the national currency appreciated by 0.36 percent, up to RON 3.5971/€1.

Meanwhile, the top local lender, Banca Comerciala Romana (BCR), published a forecast for 2008, in which analysts indicate that inflation is likely to remain below the upper level targeted by the Romanian National Bank (BNR), of 4.8 percent. They further predict a rise in the key interest rate of up to 8 percent during the central bank's meeting next week. „The National Bank could increase the monetary policy rate by one half or one percentage point. There are pressures for a currency appreciation,” said Raiffeisen Bank’s Chief Analyst, Ionut Dumitru.