ISARESCU
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BNR Turns Into Surrogate Parent For Foreign-Held Romanian Banks
For the first time ever, Romania’s central bank (BNR) says financing of foreign-held banks by their parent banks is uncertain and therefore finds it has to lend them money itself.
BNR Not Worried About Leu’s Recent Fall Vs Euro
Romania’s central bank is prepared to use all its available tools to parry potential speculative attacks against the leu if the national currency weakens too much, but its recent depreciatio...
Isarescu: Leu Reserve Requirements Lowered ‘Gradually’
Persistent cash shortage in the Romanian interbank market could prompt a reduction of the minimum reserve requirements for leu-denominated liabilities, but such a move would require extreme...
Isarescu: Leu Fall Contained In Case Of Grexit
Romanian central bank governor Mugur Isarescu Tuesday dismissed recent speculations that a potential exit of Greece from the eurozone would cause the leu to trade at 5 units against the euro...
Isarescu’s Dilemmas: How To Juggle Exchange Rate, Interests, Exports, Leu Savings And Lack Of Foreign Funding
Almost four years since the crash of the Lehman Brothers bank, the officially recognized milestone that marks the start of the most serious financial and economic crisis of the last eighty y...
Isarescu: Wage Hikes To Have Little Impact On Inflation. BNR Keeps 2012 Forecast At 3.2%
Romania’s central bank Tuesday maintained its forecast on the year-end inflation unchanged at 3.2% for 2012 and estimated the annual rate will remain within the desired targets at least unti...
Isarescu: Leu's Fall May Be Linked To Fundamentals
The Romanian leu has weakened against the euro in an immediate reaction to the government’s fall, but its recent evolution could also point to a shift in macroeconomic fundamentals, central...
Isarescu: Monetary Easing Cycle Halted Over Political Developments
Romanian central bank governor Mugur Isarescu Wednesday said the bank has halted its monetary policy easing as a reaction to a mix of domestic and international developments, including the r...
Lending Lags, Despite Key Rate Cuts, Because Banks Are Morphing
Consecutive key rate reductions are not reflected in a resumption of credit because banks, especially Greek and Austrian-owned ones, are unfolding a gradual adjustment of the loan to deposit...