TODAY’S NEWS
ECONOMY & COMPANIES
-Retailers and dairies in Romania agreed to cut fresh milk shelf prices by 20% in the country for a period of at least six months starting Monday (May 1) . The reduction will be applied to the fresh milk of Romanian origin that currently costs over RON 7 (EUR 1.4) per litre, Agerpres reported citing Bogdan Chiriţoiu, chairman of the competition authority, which mediated the agreement.
–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 6.70% a year on Tuesday (May 2), according to the National Bank of Romania.
–National gas transmission company Transgaz General Director Ion Sterian told Ziarul Financiar in an interview that Black Sea gas will be the biggest gamechanger in the local energy landscape, with this being the resource that can aid connecting green energy, the horizontal development of the economy and the genuine transformation of Romania into a regional player.
-Romania will receive almost 30 million euros from the European Commission to support farmers affected by cheap grain imports from Ukraine, the Minister of Agriculture and Rural Development, Petre Daea told Digi24 on Tuesday (May 2).
-Last month, over half a million job applications were registered on BestJobs. Candidates aged 25 to 34 were the most determined to change their job, according to the online recruitment platform.
–Romania’s foreign exchange reserves stood at EUR53.3 billion in April, up by EUR112 million m-o-m, the National Bank of Romania (BRD) data showed.
TODAY’S MARKET
EXCHANGE RATES
| EUR 4.9290 | GBP 5.6069 |
| USD 4.4989 | CHF 4.0033 |
| BGN 2.5201 | MDL 0.2498 |
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 0.25%, BET-TR 0.25%, BET-FI 0.26%, BET-NG 1.64%, BET-XT 0.28%, BETXT-TR 0.28%, BET-BK 0.19%, RO-TX -0.21%, BETAeRO -0.06% |
CAPITAL MARKET COMMENTARY
| Bucharest stocks traded in the green on Tuesday bucking the trend across Europe where major European indices ended the session deep in the red as concerns over the banking sector resurfaced following the collapse of First Republic Bank. Investors also digested data from the Eurozone where headline inflation rate rose slightly to 7.0% in April and awaited monetary policy decisions from the Federal Reserve and the European Central Bank (ECB) due later in the week. |
