BANCI | ENGLISH

National Bank of Romania keeps the monetary policy rate unchanged at 5.25 percent

Autor: Bancherul.ro
2013-03-29 18:35

PRESS RELEASE
In its meeting of 28 March 2013, the Board of the National Bank of Romania decided the following:
to keep the monetary policy rate unchanged at 5.25 percent per annum;
to ensure 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 reiterates that the NBR closely monitors domestic and global economic developments so as, via an adequate dosage of its instruments, to ensure price stability over the medium term and financial stability.
The analysis of the latest developments in macroeconomic indicators points to the resumption of disinflation, after the temporary pick-up in consumer price growth in January 2013, and to a relative improvement in economic activity, underpinned by favourable net export performance.
The annual inflation rate fell to 5.65 percent in February 2013 from the previous month’s reading of 5.97 percent, although remaining outside the variation band around the target and above the 4.95 percent level seen in December 2012. The annual adjusted CORE2 inflation rate1 stood at 3.1 percent in February, marginally below the 3.2 percent figure in January 2013.
Real GDP recorded positive growth in 2012 Q4, while the widening of the negative output gap slowed. Monetary indicators point to the real annual dynamics of lending to the private sector remaining in negative territory, similarly to credit developments in the euro area and in most countries in the region.
The monetary policy remained prudent, seeking to firmly anchor inflation expectations amid the transitory inflation bout and the heightened capital flow volatility, triggered by resurgent eurozone tensions stymieing investors’ risk appetite.
As domestic political and financial tensions eased, the NBR carefully calibrated the monetary policy instruments, also by shifting from firm to adequate liquidity management, which led to an improvement of liquidity conditions on the money market and hence drove interbank rates considerably lower.

With interbank rates nearing the policy rate, the transmission of the latter’s signal is strengthened, which reflects positively upon the leu-denominated credit market, via a gradual cut in funding costs for both the real economy and the government sector.

The NBR’s current assessments reconfirm the prospects for the annual inflation rate to follow a downward trend, albeit remaining outside the variation band in the forthcoming months, with the persistence of the negative output gap being the main disinflation driver. Subsequently, the annual inflation rate is projected to reach the upward bound of the target band at end-2013.

In this context and with a view to effectively anchoring inflation expectations, the NBR Board has decided to keep the monetary policy rate unchanged at 5.25 percent per annum, to further ensure 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 monetary policy stance aims to fulfil the objectives of price stability over the medium term and financial stability, while also mitigating the adverse impact of external and domestic factors on the economic rebound.
The NBR Board reiterates that the central bank closely monitors domestic and global economic developments so as, by gradually adjusting the monetary policy and adequately using its instruments, to ensure price stability over the medium term and financial stability, thus paving the way for lasting and sustainable growth.
In line with the announced calendar, the next NBR Board meeting dedicated to monetary policy issues is scheduled for 2 May 2013, when the new quarterly Inflation Report is to be examined.

Comentarii

Adauga un comentariu

Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH

Merger of Alpha Bank and UniCredit Bank Romania

Press Release: "Alpha Services and Holdings announces a strategic partnership with UniCredit in Romania Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policy In its meeting of 4 April 2023, the Board of the National Bank of Romania decided: • to keep the monetary policy rate at 7.00 percent per annum; • to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum; • to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions. The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release: ING posts FY2022 net result of €3,674 million,
proposed final 2022 dividend of €0.389 per share

4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%
•
Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income
•
Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter
•
Risk costs declined to 17 bps of average customer lending

Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits
•
On a full-year basis, our primary customer base grew by 585,000 detalii

BT Financial Results as at 30 September 2022

BT Financial Results as at 30 September 2022 Banca Transilvania – sustained growth in customers and operations during the first nine months of the year "We continued our robust growth in the number of clients and transactions, with a dynamic well above the market average. We have been growing steadily and continued financing companies and individuals, despite the fact that the financial market is more fraught with uncertainty than ever and
the funding costs and capital requirements are additional factors driving the uncertainty in the economy. We remain committed to our objective - to be the main supporter of the economy and of the state for the development of Romania", states Mr. Ӧmer Tetik, Chief Executive detalii

Vezi toate stirile

21.11.2024

1 EUR = lei
1 USD = lei

Sursa BNR

Profil de Bancher

Wolfgang Schoiswohl, Vicepresedinte Executiv Corporate & Trezorerie
BCR

Consiliul de Supraveghere al BCR l-a numit pe ... vezi profil

Toate Profilele

Profil de Banca

CEC Bank

vezi detalii

Toate Bancile

Filmul Parking, un cliseu plictisitor

Toate stirile

ING Bank

Toate stirile

Ultimele Comentarii

LOAN OFFER
Buna ziua Aceasta pentru a informa publicul larg că oferim împrumuturi celor care au nevoie de ... detalii
!
Greu cu limba romana! Ce legatura are cuvantul "ecosistem" din limba romana cu sistemul de plati ... detalii
Bancnote vechi
Am 2 bancnote vechi:1-1000000lei;2-5000000lei Anul ... detalii
Bancnote vechi
Numar de ... detalii
Bancnote vechi
Am 3 bancnote vechi:1-1000000lei;1-5000lei;1-100000;mai multe bancnote cu eclipsa de ... detalii

Nume	*
E-mail	*
E-mail prieten	*
Mesaj
Cod validare	*
	Tastati codul din imagine (doar cifre)
	195.154.184.126