Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. CFA Romania: For visible effects on economy, BNR...

CFA Romania: For visible effects on economy, BNR should raise key rate to 2.5 ppa

November 11, 2021

For visible effects on the economy, the National Bank of Romania (BNR) should raise the key interest rate four more times by increments of 0.25 percentage points each to 2.5 pct per annum, vice president of Romania's chartered financial analysts association CFA Romania, Adrian Codirlasu, told a conference on Thursday."Regarding monetary policy, in the latest CFA Romania survey we said we expect at least two key interest increases in the next 12 months. The first one came quickly. What I think determined the BNR to proceed earlier than most of the market's anticipations was the fact that we expect second-round effects of the rising energy prices to influence inflation expectations. I think this was the main reason, fighting inflationary expectations. But this 0.25 pp is practically just a signal that the Central Bank is concerned about inflation. To really have an impact on the economy and reduce the inflation rate ... there should be at least four more increases, so go from 1.5 ppa to 2.5 ppa for a visible impact on the economy," Codirlasu told the conference "Pandemic Goes On: Romania Where to? How Does the Romanian Economy Withstand the Pandemic", an event dedicated to the entrepreneurial ecosystem, organized by Oxygen Events with the support of the Romanian Banking Association.Adrian Codirlasu explained that BNR cannot influence all prices, energy prices included, through the measures it takes.Earlier this month, the Board of the National Bank of Romania decided to increase the benchmark interest rate to 1.5 pct per annum, to put up the deposit facility rate to 1 pct per annum, and increase the lending facility rate (Lombard) to 2 pct per annum.  

Read in full - click here
Central Romania: SoNoRo Musikland reaches Sibiu at this year's edition

SoNoRo Musikland, the chamber music festival celebrating the architectural heritage of Transylvania, has scheduled this year concerts in Sibiu and Copșa Mare, in addition to Cincu, Saschiz, Meșendorf, Criț, Viscri, Codlea, Făgăraș, and Brașov. This year's program spans 16 days and 23 events, comprising 16 concerts, two jam sessions, and five concerts for children held […]

Romania’s former presidential candidate Călin Georgescu sent to trial for promoting fascist, legionary ideology

The General Prosecutor's Office sent to trial former presidential candidate Călin Georgescu for promoting the cult of war criminals and spreading fascist, legionary, racist, and xenophobic ideas, News.ro...

DP World launches region’s first drive-through scanner at Romania’s Port of Constanța

DP World has inaugurated the first drive-through cargo scanner in Central and Eastern Europe at its RO-RO terminal in the Port of Constanța. According to the company, the new system significantly cuts truck inspection times, boosting trade efficiency across the region. The high-tech scanner reduces inspection times for import and transit trucks from up to […]

Quality of life, social-well being slight rose in Romania, declined or stagnated globally in 2024

Quality of life and social well-being slightly improved in Romania in 2024, while it stagnated or declined in the majority of the countries globally, according to the Social Progress Index, measured in 170 countries worldwide by the non-profit organization Social Progress...

Romania's FWF by AROBS named UiPath Fast Track Partner to drive Agentic Automation adoption

Intelligent process automation solutions provider FWF, part of the AROBS Group, has been recognized by Romanian-born unicorn UiPath, a global leader in agentic automation, as an Agentic Automation Fast Track Partner, joining an elite group of UiPath partners. The distinction recognizes FWF by AROBS’s commitment to being at the forefront of innovation in enterprise automation, […]

Only a quarter of Romanians had basic digital skills in 2023, report shows

Only 27.7% of Romanians had basic digital skills in 2023, below the EU average of 55.56%, according to the Digital Decade 2025 Country Report – Romania, conducted by the European Commission. In Romania, the authorities responsible for building a digital skills framework for public...