National Bank of Romania

Yuan Sinks to 11-Year Low and Depresses Global Stocks & Sovereign Debt Yields

August 5, 2019

It’s been a chaotic day in financial markets, with America seemingly at war on several fronts and non-manufacturing PMIs down in the U.S., Europe, Japan and China. The dollar rose 1.6% against the yuan and 1.3% relative to the peso but fell 1.7% against the euro, 1.0% relative to the Swiss franc, and 0.5% vis-a-vis […] More

Independence Day 2018

July 4, 2019

Financial markets this Thursday barely moved in the absence of U.S. participation. A few more purchasing managers surveys from June were reported. The global composite PMI stayed at May’s three-year low level. The global services PMI recovered 0.3 points to 51.9 from May’s 33-month low. Hong Kong’s private manufacturing PMI signaled a contractionary trend for […] More

National Bank of Romania

May 15, 2019

Board members of the National Bank of Romania did not raise their monetary policy rate further despite enumerating several concerns. Inflation has risen to 4.1%, and officials project that such will “remain above the variation band of the target during the next three quarters and thereafter return to and stay in the upper half of […] More

U.K. in Greater Danger of a No Deal Brexit

April 2, 2019

The British House of Commons still cannot find sufficient agreement on the terms of withdrawing from the EU. Faced with binary scenarios of withdrawal without a deal or a lengthy delay in leaving, the first option is looking more and more likely. The 10-year British gilt yield dropped five basis points in response overnight, but […] More

Decision Day in America

November 6, 2018

Market behavior today has been unremarkable, as investors around the world wait to see which vision of America has prevailed. The dollar has dipped 0.1-0.2% against the euro, Swiss franc, yuan, and Canadian, Aussie and New Zealand dollars. there’s been a 0.3% drop against the peso and sterling but a 0.1% uptick relative to the […] More

National Bank of Romania

May 7, 2018

Romania’s central bank Board hike the monetary policy rate by 25 basis points today to 2.50%. This action followed an initial 25-bp increase done in January. These two moves reverse half the total one percentage point rate reduction that occurred previously during the first five months of 2015. In a released statement, the move is […] More

National Bank of Romania

April 4, 2018

Following back-to-back quarter percentage point hikes in Romania’s monetary policy rate, now 2.25%, during January and February, central bank officials left the rate unchanged at today’s review. The 1.4 percentage point acceleration of Romanian CPI inflation between December and February had been along lines that officials had anticipated. The latest assessments reconfirm the outlook for […] More

National Bank of Romania

February 7, 2018

NBR Board members agreed to a second straight monthly monetary policy rate hike of 25 basis points to 2.25%. The moves in January and now February represent a directional shift. The rate had been reduced seven times starting in August 2014 to 1.75% by May 2015. Rate reversal comes against the backdrop of strong consumption-led […] More

First Romanian Policy Interest Rate Hike since 2003

January 8, 2018

The first change of a key central bank interest rate was made by the National Bank of Romania, where the key policy rate, deposit facility rate, and lending facility rates were raised 25 basis points each to 2.0%, 1.0% and 3.0%. The policy interest rate had been at 1.75% since a 25-basis point reduction in […] More

National Bank of Romania

November 7, 2017

Romania’s monetary policy rate stays at 1.75%, but the overnight lending and deposit rate corridor was narrowed further with a 25-basis point cut of the former to 2.75% and a hike of the latter to 0.75% from 0.50%. A statement was released after the latest review that observes solid economic growth, a recent pickup of […] More