TODAY’S NEWS
POLITICS
-President Klaus Iohannis sent on Thursday (April 13) the law by which solidarity contribution was introduced to Parliament for re-examination. The head of state when asked if the economic situation in Romania requires pay cuts and layoffs in the public sector, said that as long as he has a say there will be no public pay cuts. Iohannis when asked whether it would be appropriate to ban the transit of grain from Ukraine or to take other measures, given the protests of Romanian farmers in recent days, said that solutions must be found to protect Romanian farmer and help Ukraine at the same time, Agerpres reported.
-The Minister of Foreign Affairs, Bogdan Aurescu, met with his Moldovan counterpart, Nicu Popescu, on Wednesday (April 13), in Bucharest.
-The Government approved on Wednesday (April 13) Romania’s association with the Global Offshore Wind Alliance (GOWA).
ECONOMY
-Compared to last year, the Easter table will be less abundant for 75% of Romanians, according to the most recent study conducted by Reveal Marketing Research.
-Romania’s current account balance posted a deficit of EUR2.61 billion in the first two months of 2023, down 17% y-o-y, the National Bank of Romania (BNR) data revealed.
-Energy resources in the country increased by 3.3% in January-February 2023 y-o-y, while population consumption decreased by 18.2%, data published by the National Institute of Statistics (INS) showed.
-The annual inflation rate eased to 14.53% in March 2023 from 15.52% in the previous month, and exceeding market expectations of 14.2%. It was the lowest reading since May last year, according to the INS.
-New orders in the manufacturing industry as a whole (domestic and foreign market) increased, in the first two months of 2023, in nominal terms, by 6.6% y-o-y, INS data showed.
-Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, stood at 6.80% a year on Wednesday (April 12).
COMPANIES & MARKET
-Bucharest-listed OMV Petrom, the largest energy company in SE Europe, said that its total hydrocarbon production stood at 116,300 barrels of oil equivalent (boe) per day in the first quarter of 2023, down 4% y-o-y, due to the negative contribution of crude oil and natural gas.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9432 | GBP 5.6115 |
| USD 4.4844 | CHF 4.0371 |
| BGN 2.5274 | MDL 0.2504 |
BNR INTEREST RATES
| Deposit facility: | 6% |
| Policy rate: | 7% |
| Lending facility: | 8% |
INFLATION RATE
| 14.53% (March 2023) BNR Target 2022: 2.50% (variation band: ± 1pp) |
BUCHAREST STOCK EXCHANGE (BVB) INDICES
| BET 0.20%, BET-TR 0.20%, BET-FI 0.49%, BET-NG 0.34%, BET-XT 0.31%, BETXT-TR 0.31%, BET-BK 0.35%, RO-TX 0.19%, BETAeRO 0.54% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks closed in the positive territory on Thursday in line with markets across Europe. Recent U.S. data, including softer consumer and producer prices reports, have fueled hopes that the Federal Reserve could go easy on future interest rate hikes. |
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