BANCI | ENGLISH

National Bank of Romania left unchanged the monetary policy rate at 6.25%

Autor: Bancherul.ro
2011-06-30 11:45

In its meeting of June 29, 2011, the Board of the National Bank of Romania decided:

- to leave unchanged the monetary policy rate at 6.25 percent per annum;
- to ensure adequate management of liquidity 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 will further vigilantly monitor domestic and global developments so as to ensure, via an adequate use of its available instruments, the achievement and maintenance of price stability in the medium term and the consolidation of financial stability.

In May, annual inflation rate rose marginally to 8.41 percent from 8.34 percent in the previous month against the background of a relative moderation in volatile and administered price growth. This evolution is in line with the latest medium-term inflation forecast presented by the NBR in the May 2011 Inflation Report, according to which disinflation will resume against the backdrop of the fading first-round effects of the VAT rate hike and the persistence of the negative output gap.

The most recent statistical data show a slower annual growth rate of industrial output and exports in April, along with the annual dynamics of leading indicators on domestic demand staying in negative territory. At the same time, however, there are incipient signs of a rebound in lending, associated also with a further decrease in bank lending and deposit rates, despite the still negative annual real growth of loans to the private sector, particularly recorded by credit in domestic currency.

The inflation outlook continues to feature significant risks. The developments in international commodity prices, the uncertainties related to the calendar and magnitude of administered price adjustments, the movements on global financial markets in the context of the evolution of the sovereign debt crisis, as well as the possible emergence of second-round effects from the supply-side shocks seen in the recent quarters remain a matter of concern. This calls for a further prudent monetary policy stance with a view to ensuring a solid anchoring of inflation expectations.

In this context, the NBR Board decided to leave unchanged the monetary policy rate at 6.25 percent per annum and to continue to pursue adequate management of liquidity in the banking system. Furthermore, the NBR Board decided to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.

These decisions, along with the consistent implementation of commitments made by the Romanian authorities under the financing agreements with international institutions, will ensure the preservation of prospects of a sustainable resumption of disinflation and a robust recovery of the economy in the context of the nominal and real convergence process.

The NBR will further vigilantly monitor domestic and global developments so as to ensure, via an adequate use of its available instruments, the achievement and maintenance of price stability in the medium term and the consolidation of financial stability.
According to the calendar of NBR Board meetings dedicated to monetary policy issues, the next meeting is scheduled for August 3, 2011, when a new quarterly Inflation Report will 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

Daniela Budurea, Country Director Western Union Romania si Bulgaria
Western Union

... vezi profil

Toate Profilele

Profil de Banca

CPBR

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