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Economy.

The latest Economy news and stories from MENtalk.news.

Economy

Bank of England raises interest rate to 4% and warns that further increases will follow if the war with Iran continues

The Bank of England's Monetary Policy Committee raised the base rate from 3.75% to 4%, the first level reached in over three years, citing inflationary pressures generated by conflicts in the Middle East. Governor Andrew Bailey stated that this should not be seen as the start of an inevitable sequence of increases, but emphasized that in the absence of a peace agreement, future adjustments remain likely.

Economy

Mihai Ghigiu estimates that Romania could temporarily lose €3.4 billion from the NRRP: Payment requests and associated risks

The Minister of Investments and European Projects, Mihai Ghigiu, announced that Romania might receive only €3 billion from the €6.4 billion requested in the latest NRRP payment requests, with the remainder potentially suspended. The risk categories were detailed: delayed milestones, lack of supporting documents, and non-compliance in reports from the National Payments Agency for Financial Institutions (AMI).