TODAY’S NEWS
POLITICS
15:09 Romania’s President Klaus Iohannis promulgated on Tuesday the law for the establishment of the “Day of the Victory of 1848 Revolution and the Romanian Democracy” and the declaration of some municipalities as martyr-cities of the 1848 Revolution, Agerpres reported.
11:08 Romania’s Minister of Foreign Affairs Bogdan Aurescu on Monday (Jan. 9) welcomed the Secretary General of the Ministry of Foreign Affairs and the National Community Abroad of the Democratic and People’s Republic of Algeria, Amar Belani, the two officials reconfirming, in this context “their wishes for the further development and deepening of Romanian-Algerian relations,” a press release of the Ministry of Foreign Affairs read.
10:01 Romania’s Minister of National Defense, Angel Tilvar, and the Chief of the Defense Staff, General Daniel Petrescu, met, on Monday, with the Romanian troops deployed in the NATO military base in Pristina, Kosovo, who are participating in the operation NATO Kosovo Force – KFOR, according to the Defense Ministry (MapN). Tilvar and Petrescu, are on an official visit to Poland on Tuesday, the National Defence Ministry informs.
09:58 Romanians who are in an extreme degree of social exclusion will be able to receive up to RON 10,000 (EUR 2030) for immediate needs, based on the various forms of support that will be granted, the Minister of Investments and European Projects, Marcel Bolos, said on Monday, according to a press release from the Ministry of European Investments and Projects (MIPE).
ECONOMY
17:40 The World Bank estimates 2.6% increase in Romanian economy this year.
15:59 The National Bank of Romania (BNR) raised its key monetary policy rate to 7% on Tuesday, in line with market expectations and adding to 575bps in interest rate hikes since the start of its tightening cycle in October 2021. The BNR also sees the annual inflation rate probably declining in 2023 Q1 in line with the latest medium-term forecast (November 2022), but falling at a significantly faster pace afterwards, to reach one-digit levels in 2023 Q3 already, it said.
10:19 Romania’s Ministry of Finance raised RON1.9 billion on Monday (Jan 9) through two government bond issues, at annual average yields of 7.73% and 6.8%, National Bank of Romania data showed.
COMPANIES & BUSINESS
12:42 Approximately 53% of Romanian employees expect their salaries to increase in 2023, and 40% plan to look for another job if this does not happen in the context of rising inflation, according to a survey by Undelucram.ro, the largest online community of employees in Romania, conducted last month.
10:47 The shift to hybrid work from remote work, together with the fact that a rising number of employees will be tempted to take up a second job to boost their revenues on the long term are the main labour market directions in 2023, an report by online recruiting platform eJobs revealed.
09:49 The rising number of real estate deals in the second half of 2023 and the declining housing supply, at least in Bucharest, will lead, on a longer-term basis, to a new price increase, with effects particularly in 2024 and 2025, Ziarul Financiar reported citing Daniel Crainic, a marketing manager at Imobiliare.ro platform.
SOCIAL
09:59 On Monday, 72,237 people entered Romania through the border points, including 8,371 Ukrainian citizens, according to the General Inspectorate of the Border Police.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9253 | GBP 5.5820 |
| USD 4.5868 | CHF 5.9798 |
| BGN 2.5182 | MDL 0.2396 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 16.76% (Nov. 2022) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET -0.35%, BET-TR -0.35%, BET-FI -0.30%, BET-NG 0.12%, BET-XT -0.30%, BETXT-TR -0.30%, BET-BK -0.24%, RO-TX -0.48%, BETAeRO 0.36% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed lower on Tuesday, as Romania’s central bank raised its key rate to 7%. Bucharest Stock Exchange (BVB) also announced it updates the selection criteria for BET, BET-TR and BET-TRN indices by including a new mechanism through which new companies can be added to the indices. |
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