National Bank of Romania (NBR) board decisions on monetary policy
NBR Board decisions on monetary policy (press release):
The annual inflation rate declined in November 2016 to -0.7 percent, slightly below the forecasted level, after having reached -0.43 percent in October. This was mainly due to the slower dynamics of tobacco product prices and to the impact of the price cuts for compulsory third-party liability insurance policies. The annual adjusted CORE2 inflation rate followed a relatively similar path, coming in at 0.47 percent in November 2016.
The average annual inflation rate remained stuck in November 2016 to the previous month’s reading, namely -1.6 percent, while that based on the Harmonised Index of Consumer Prices rose to -1.1 percent (from -1.2 percent in October 2016).
Economic growth lost momentum in 2016 Q3, witnessing a stronger-than-expected slowdown. Annual GDP dynamics decelerated to 4.4 percent (against 6 percent in Q2), solely due to the slacker advance in domestic demand, on account of both components, i.e. consumption and investment. The negative contribution of net exports shrank significantly, given the much sharper decline in the growth rate of imports compared with that of exports of goods and services. On the supply side, services became again the fastest-growing sector, further making the largest contribution to GDP dynamics.
During 2016 Q3, most economic sectors posted reductions in productivity gains in annual terms, whereas the annual dynamics of net average wage remained high, around the level recorded in the previous quarter.
Real monetary conditions remained stimulative. Credit to the private sector saw its growth pick up slightly in October-November, largely on account of loans to non-financial corporations. The share of leu-denominated credit in total private sector loans continued to widen, reaching 56.9 percent at end-November 2016, as the dynamics of the leu-denominated component were further high, while the negative change of foreign currency-denominated loans was marginally smaller. These developments certify the improvement in monetary policy transmission, while also helping mitigate the risks to financial stability.
The most recent assessments reconfirm the outlook for the annual inflation rate to re-enter positive territory in 2017 Q1 along with resuming an upward course, amid the fading out of the transitory effect of the standard VAT rate cut to 20 percent, excess demand and higher unit wage costs. However, the annual inflation rate is expected to stand lower than the level highlighted in the latest medium-term forecast.
The risks to the inflation outlook stem from both domestic and external sources. The external environment is marked by risks related to the euro area economic growth, the challenges to the European banking system, the Brexit negotiations, as well as those concerning the developments in the prices of oil and other commodities.
Based on currently available data and in the context of these uncertainties, the Board of the National Bank of Romania decided to keep unchanged the monetary policy rate at 1.75 percent per annum, to further pursue adequate liquidity management in the banking system, and to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.
The NBR Board decisions aim to ensure and preserve price stability over the medium term in a manner conducive to achieving sustainable economic growth. The consolidation of the economic picture calls for ensuring a balanced macroeconomic policy mix and progress in structural reforms.
The NBR is closely monitoring domestic and external developments and stands ready to use all its available tools during this period of heightened uncertainty.
According to the NBR Board decision, the account (minutes) of discussions underlying the adoption of the monetary policy decision during today’s meeting will be posted on the NBR website on 13 January 2017, at 3:00 p.m.
In line with the announced calendar, the next monetary policy meeting of the NBR Board is scheduled for 7 February 2017, when a new quarterly Inflation Report is to be examined.
Adauga un comentariu
Adauga un comentariu folosind contul de Facebook
Alte stiri din categoria: ENGLISH
European Commission Fact Sheet: Payment Services Directive (PSD2): Regulatory Technical Standards (RTS) enabling consumers to benefit from safer and more innovative electronic payments
European Commission - Fact Sheet Payment Services Directive (PSD2): Regulatory Technical Standards (RTS) enabling consumers to benefit from safer and more innovative electronic payments Brussels, 27 November 2017 1. detalii
Alpha Bank sale of Non-Performing Loans (press release): Alpha Bank A.E. announces that together with Alpha Bank Romania S.A. (jointly hereinafter the “Bank”) they have entered into a definitive agreement for the sale of a Non-Performing Wholesale Loans detalii
B2Holding acquires a non-performing credit portfolio from Raiffeisen Bank in Romania (press release): B2Holding ASA has through its Romanian subsidiaries B2 Kapital Portfolio Management SRL and Debt Collection Agency SRL, entered into agreements to acquire a portfolio of detalii
European Council: Romania has failed to take effective action to correct a significant budgetary deviation
On 5 December 2017, the Council adopted a decision establishing that Romania has failed to take effective action to correct a significant budgetary deviation. It issued a new recommendation, revising a recommendation already addressed to Romania under the EU’s ‘significant detalii
Sorin Serban, Vicepresedinte Restructurari si Recuperare Credite
24 Februarie 2012 – Sorin Şerban a fost ... vezi profil
- Topul bancilor dupa active in 2016
- Topul bancilor dupa active in 2015
- Topul bancilor dupa active in 2014
- Cota de piata a bancilor dupa active la finalul anului 2013, conform datelor BNR
- Topul bancilor cu cele mai mici comisioane la internet banking
- Jaewoo Lee, new IMF mission chief for Romania and Bulgaria
- IMF concludes article IV consultation with Romania
- IMF statement on the stability of the banking system in Ukraine
- Global House Prices: Time to Worry Again?
- FMI: Raport de asistenta tehnica - Imbunatatirea administrarii riscului de conformare pe care il prezinta marii contribuabili
- HSBC, by first direct and Bud, is trialling an open banking app model
- Probleme cu autorizarea platilor online cu carduri Mastercard si Maestro
- Sistemul informatic al Raiffeisen (carduri, ATM-uri, POS-uri, online banking) nu a functionat in aceasta dimineata
- UniCredit prepares for multinational roll-out of instant payments
- BCR: Program de lucru cu publicul, de Pasti
- Depozitele bancare nu intra in campania electorala
- FGDB explica modul de aplicare a procedurii de recapitalizare interna a unei banci cu depozitele negarantate ale clientilor (bail-in)
- Valoarea depozitelor garantate de FGDB a crescut cu 50 miliarde lei in ultimul an, la 221 miliarde lei in total
- FGDB aminteste ca toate conturile si depozitele din bancile romanesti sunt garantate in limita a 100.000 de euro
- EBA Risk Dashboard
- EBA Risk Dashboard confirms steady improvements in the EU banking sector but banks profitability and business model sustainability remain key challenges
- EBA report on risks and vulnerabilities in the EU banking sector
- EBA publishes a Discussion Paper on its approach to FinTech
- EBA publishes Final Guidelines on major incident reporting under PSD2
- ECB: Insights into the digital transformation of the retail payments ecosystem
- ECB introductory statement on Governing Council decisions
- Speech by Mario Draghi, President of the ECB: Sustaining openness in a dynamic global economy
- Deciziile de politica monetara ale BCE
- Mario Draghi, President of the ECB: Introductory statement to the press conference (with Q&A)
- Federal Reserve issues FOMC statement
- A Challenging Decade and a Question for the Future (speech by Janet Yellen, The Fed chair)
- Janet Yellen speech: Financial Stability a Decade after the Onset of the Crisis
- Janet Yellen - Semiannual Monetary Policy Report to the Congress
- Federal Reserve majoreaza din nou dobanda
- Banca Transilvania and EBRD become majority shareholders of Victoriabank in Moldova
- BERD devine actionar Agricover Holding
- Life satisfaction: the pursuit of happiness - EBRD study
- EBRD is launching a new Green Economy Financing Facility in Romania
- EBRD selects a company to provide a visual analytics platform
- Cresterea economica este nesustenabila, avertizeaza economistii Bancii Transilvania
- Estimarile economice din Romania sunt modeste, in pofida conditiilor financiare bune (studiu GfK)
- National Bank of Romania could leave unchanged the key rate in 2017
- Poland: EU funds - key factor for growth next year
- BNR nu va majora dobanda pana la jumatatea anului 2017, estimeaza Garanti Bank
- Romania implements SME Initiative: EUR 580 m for Romanian businesses
- European Investment Bank (EIB) is lending EUR 20 million to Agricover Credit IFN
- Obligatiunile Good Pople SA (FRU21) au debutat pe piata AeRO
- BVB avertizeaza doua firme ca nu si-au respectat obligatiile de raportare
- Raiffeisen Centrobank (RCB) a lansat produse de investitii tip warrant la BVB
- BVB a initiat procesul de fuziune cu Sibex
- Hotararea Guvernului nr. 2/2018 pentru modificarea si completarea Hotararii Guvernului nr. 717/2009 privind aprobarea normelor de implementare a programului "Prima casa"
- Normele metodologice pentru aplicarea Ordonantei de urgenta a Guvernului nr. 193/2002 privind introducerea sistemelor moderne de plata
- Legea nr. 151 din 2015 privind procedura insolventei persoanelor fizice
- Legea nr. 258/2017 privind comparabilitatea comisioanelor aferente conturilor de plati, schimbarea conturilor de plati si accesul la conturile de plati cu servicii de baza
- Lege pentru modificarea şi completarea Ordonanţei de urgenţă a Guvernului nr. 193/2002 privind introducerea sistemelor moderne de plată
- BCR a fost reclamata la CEDO de clientii care au pierdut procesele privind clauzele abuzive din contractele de credit
- Instanta de judecata decide executarea silita a girantului unui credit, debitorul principal fiind insolvabil
- Decizia Curtii de Apel Bucuresti de anulare a Ordinului ANPC impotriva Raiffeisen Bank privind debitarea veniturilor clientilor
- Decizia Curtii de Apel Bucuresti de suspendare a deciziei Curtii de Conturi impotriva Raiffeisen Banca pentru Locuinte
- Decizia Curtii de Apel Bucuresti in procesul privind bancile pentru locuinte dintre Ministerul Dezvoltarii si Curtea de Conturi
- Statisticile cardurilor, platilor, POS-urilor si bancomatelor
- Creditele noi acordate de banci au scazut cu 13%
- Biroul de Credit: restantele populatiei la banci si IFN-uri sunt in crestere
- Rata creditelor neperformante scade in continuare
- Creditele noi acordate de banci au atins un nou record de crestere in august
- Guvernul a alocat garantii de 2 miliarde lei pentru Programul Prima Casa in 2018
- Transferul contributiilor de la angajator la angajat va avea aplicabilitate cel putin pana in anul 2020, spune Ministerul Finantelor
- Sinteza proiectului de buget pentru anul 2018 publicata de Ministerul Finantelor
- Posta vrea sa instaleze bancomate
- Guvernul isi majoreaza cheltuielile cu 500 milioane lei, iar veniturile cu 280 milioane lei, printr-o rectificare bugetara
- Numarul fimelor active din Romania, conform statisticilor Registrului Comertului
- Evolutia istorica a cresterii anuale a Produsului Intern Brut (PIB), conform datelor Institutului National de Statistica (INS)
- Evolutia istorica a valorii Produsului Intern Brut (PIB), conform datelor Institutului National de Statistica (INS)
- Transferurile de bani ale romanilor din strainatate au ajuns la 2,1 miliarde euro anul trecut, conform statisticilor Eurostat
- Salariul mediu net si brut lunar pe economie - evolutie istorica intre in anii 1991 - 2016, conform datelor Institutului de Statistica (INS)
OTP Bank percepe comision de 0,1% dar nu mai putin de 10 euro + 15 euro SWIFT. Astfel pentru o ... detalii
Buna ziua as dori sa stiu sodul din contul meu din ... detalii
ce se intampla ,daca am intarziat,am incercat sa depun dosar sa beneficiez de lege,dar mi-a fost ... detalii
Am corectat, multumim pentru ... detalii
De circa 14 zile nu pot folosi aplicatia pentru a plati facturile.Am anuntat si banca centrala,nu ... detalii