Citi Romania volunteers in Bucharest joined more than 40,000 Citi volunteers in 100 countries for the companys third annual Global Community Day. More than 40 volunteers in Bucharest, including employees and their families and friends, spent Saturday, November 8th, with 50 children from SOS Satele Copiilor, trying to make them not fell more fortunate at least for a day.rn rnThis year, in Romania, the program was developed with SOS Satele Copiilor, in partnership with United Way Romania. The Global Community Day took place in Bucharest, with children aged 4-17 years old. The Citi volunteers had the opportunity to spend some quality time with the children, play, paint, sing, socialize and entertain them.rnrnGlobal Community Day is an initiative which aims to promote social responsibility, as part of our corporate values. Citi Romanias employees enthusiastically joined all our colleagues worldwide in this global event meant to dedicate a common effort to community on the same day, every year. This year Citi Romania volunteers chose to spend their day off alongside children from SOS Children Villages, with the desire to offer them a memorable day through educational games and lots of fun, a day in which the children can forget about all troubles and just be kids , said Shahmir Khaliq, Citi Country Officer.rnrnCitis Global Community Day is a worldwide effort involving hundreds of projects in hundreds of cities around the world. Recognizing that many Citi employees volunteer year-round in their communities, Global Community Day celebrates Citis volunteer spirit worldwide on one day. Local volunteer teams will be working on a variety of projects addressing specific community needs including literacy, housing, environmental protection, nutrition, and health care.rnrn”On Global Community Day, Citi employees in more than 100 countries around the world will assemble to make a difference in their local communities, said Pamela Flaherty, President and Chief Executive Officer, Citi Foundation and Director, Corporate Citizenship. In these difficult times, community engagement is more important than ever because the needs are so great. Whether it is teaching financial education to young people; planting trees to combat deforestation; refurbishing schools in poor communities; or serving meals to the homeless, Citi employees will turn out to volunteer. Global Community Day is one of many ways, from sound business practices to our Foundation programs that Citi strengthens the communities where we live and work.”rn
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The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
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