Analysts surveyed by Economica.net reveal expectations for an interest rate hike at the monetary board of the National Bank of Romania (BNR), possibly of 50 bp to 2.25%, perhaps accompanied by further widening of the interest rate corridor that would push up further the Lombard interest rate. "We expect the National Bank of Romania to increase the key interest rate from 1.75% to 2.25%. We also anticipate the widening of the corridor formed by the interest rates of permanent facilities around the monetary policy interest rate to +/- 1.00 pp, from +/- 0.75 pp now," said Valentin Tataru, chief economist of ING Bank. Adrian Codarlasu, vice president of CFA Romania Association, believes that Poland hiking the rate by 50 bp this week to 2.25% sets grounds for an increase in Romania's monetary policy interest rate by 0.5% as well, compared to the initial expectations for 0.25 bp hike expressed by the Association. He also warned that the headline inflation might hit 10% YoY in May-June, judging from the factory-gate inflation of 32% (in November) recently announced. Ionut Dumitru, Raiffeisen Bank's chief economist, points out that Raiffeisen Bank's forecast envisages a policy interest rate of up to 2.5% by mid-2022 and 3% by the end of 2022. "We expect the BNR to catch up with colleagues in Central and Eastern Europe and offer a key rate hike of 50 bp to 2.25% at the next January 10 interest rate meeting. The excess liquidity after high public spending at the end of the year should support such a decision. The BNR should remain a net debtor to the banking system for the next two months," he explained.
Elena Oancea is the Co-CEO of Goldbach Group, a Romanian holding comprising 8 companies operating in sectors such as the development of retail parks, property management, civil and industrial construction, real estate development, architecture and urban planning, interior design, renewable energy, consultancy for projects financed by European funds. Driven by a clear vision of strategic innovation […]
Cosmin Florin Dumitrache, a shepherd from Romania’s Prahova County, notified the Prahova County Museum of History and Archaeology after he discovered a skull in the Vârful Scoruș area, at Urlați. The bones turned out to be 5,000 years old years old. A team of specialists from the museum carried out an archaeological intervention to salvage […]
Crin Antonescu, the candidate backed by the ruling coalition in Romania, raised RON 20 million (EUR 4 million) for the ongoing presidential campaign, according to data published by the Permanent Electoral Authority on Friday, April 11. Of the RON 20 million, the Social Democratic Party raised RON 15 million for Antonescu’s campaign, followed by UDMR, […]
Frequenza Festival will bring a mix of classical and contemporary chamber music to Bucharest next month. Hosted at the Auditorium Hall of the National Museum of Art of Romania between May 22 and 25, the festival will feature four evening concerts performed by a lineup of international musicians. The festival’s artistic directors are the renowned […]
Romania is set to be part of an Important Project of Common European Interest (IPCEI) on nuclear energy announced this week by Stéphane Séjourné, Vice-President of the European Commission responsible for industrial strategy. The project developed by France with Romania and Italy includes small modular reactors, advanced reactors, uranium management, supply, research on nuclear fusion, […]
Victoriabank, a subsidiary of Romania’s Banca Transilvania Group, has signed an agreement to acquire Microinvest, the leading non-bank microfinance institution in the Republic of Moldova. The deal, announced Thursday in Chișinău, marks the group’s latest expansion into the Moldovan market, following Victoriabank’s recent merger with BCR Chișinău. The transaction is subject to approval by regulatory […]
