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Update – BNR increases monetary policy rate to 2pc. Governor Isarescu: This does not mean ROBOR Index will grow further

In its meeting of Monday January 8, 2018, the Board of the National Bank of Romania (BNR) has decided to increase the monetary policy rate to 2.00 percent per annum, up from 1.75 percent per annum as of 9 January ...

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Romgaz to dismiss Director General Virgil Metea for damages worth RON 160m. Emil Cindrea, investigated in InterAgro file, to take over

The Romgaz Board has decided on Thursday to dismiss Virgil Metea from the position of Director General. His office will be taken over by Emil Cindrea, former Deputy Director General, one of the persons prosecuted by the Directorate for the ...

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BNR monetary policy meeting – economic growth in 2017, up faster than anticipated, to slow down in 2018 and lose momentum in 2019

According to the minutes of the monetary policy meeting of the National Bank of Romania Board on November 7, 2017 the Board discussed and adopted the monetary policy decision, based on the data and analyses on the recent characteristics and ...

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ASF eliminates, as of October 1, the 1pc quota applied to local intermediaries operating on the capital market, sets factor ‘N’ value

The Board of the Financial Supervisory Authority (ASF) has decided at the meeting on Wednesday to abolish the application of 1% quota on the operating income for local intermediaries – financial investment services companies and credit institutions registered in the ...

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BNR maintains monetary policy rate at 1.75pc. Minimum reserves on foreign exchange-denominated liabilities cut to 8pc

In its meeting of May 5, 2017, the Board of the National Bank of Romania (BNR) decided the following: to keep unchanged the monetary policy rate at 1.75 percent per annum (unchanged since May 2015 – our note); to pursue ...

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Tax cuts in 2018 will lead to fall in budget revenues by RON 23bn, IMF says

In the latest letter sent to the Board in Washington by the International Monetary Fund (IMF) officials, after the meeting of the IMF delegation with the Romanian government, it is estimated that by cutting the profit tax to 10% and ...

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Christian Heinzmann, former Tarom general manager, has sued the company

Christian Heinzmann – who held the position of Tarom CEO since 2012 and was removed from office in March, following a decision of the board – has sued the company. “Following his dismissal, Christian Heinzmann has filed a legal action. ...

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