Romania hikes key rate to fight inflation

Bucharest  - Romania's central bank raised its key interest rate Thursday for the sixth time this year in a bid to fight inflation that is among the European Union's highest.

The quarter-point hike pushed the monetary policy rate to 10.25 per cent, keeping the cost of borrowing at a three-year high after consumer prices rose 8.6 per cent in June.

Prime Minister Calin Popescu-Tariceanu's government, which faces November parliamentary elections, recently pushed through increases in retirement benefits and the minimum wage - moves that will increase inflationary pressure, local analysts said.

Curbing inflation is a key requirement for Romania to switch its currency to the euro, a goal the government has set for 2014.

Secret police shot at Romanian protesters, court documents show

BucharestBucharest- Romania's secret police, and not the army, fired on demonstrators during the rev

Romania smashes drug smuggling gang

Bucharest  - The Romanian authorities aided by colleagues from the US and several EU states have broken up a 17-person drug and cigarette smuggling gang, the Romanian border police said Monday.

Ex-minister charged with corruption in Romania

Bucharest  - Romanian prosecutors Monday filed corruption charges against former Agriculture Minister Traian Decebal Remes.

Romania in new rate hike to battle inflation

Bucharest  - Romania's central bank Tuesday raised its key lending rate to 9.75 per cent from 9.5 per cent, seeking to fight inflation with the fifth consecutive hike since October.

Romanian cabinet minister faces corruption probe

Labour Minister Paul PacuraruBucharest - Romanian anti-graft prosecutors Friday asked