The National Day of France, celebrated on 14th of July 2012, was a special occasion to mark the finalizing of the rebranding process for all Crédit Agricole branches in Romania, said the bank in a statement.rnrnThe rebranding process, by adopting the commercial name and logo of Crédit Agricole, took place in only two weeks after the National Bank of Romania has approved the share acquisition of the Emporiki Bank‘s subsidiary in Romania by Credit Agricole S.A and in one month since the signature of the agreement between the two banks was announced.rnrnThe event, celebrated in the branches in this week, covers the internal communication side, for the employees, and the external one, by having a special French Corner for the clients in each branch. rnrn“We wanted to share the joy of the rebranding together with our colleagues and our clients. This is why the National Day of France is the best occasion to double the symbolism of the rebranding process. The accessories that the employees of Crédit Agricole will wear this week, including top management, are the best statement in celebrating these events with our customers. More than that, we have created special offers for our clients for saving and premium package products”, Mr. Pierre Martin, CEO, has declared.rnrnThe official name of the bank will be changed in Credit Agricole Bank Romania at the end of August; after all necessary legal processes will be accomplished.
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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NBR Board decisions on monetary policyIn 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 electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii
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