ECB Keeps Key Rate Unchanged At Record Low
The European Central Bank (ECB) Thursday kept its key interest rate unchanged at a record low of 0.25%, holding back for now on further moves to boost the struggling eurozone economy.
The decision follows the ECB’s surprise cut last month of its central “refi” refinancing rate by a quarter-point to counter the threat of deflation.
The Bank of England kept its benchmark rate at 0.5% in London Thursday and left its asset-purchase target at 375 billion pounds ($613 billion). (Curierul National)
Central Bank Official: Lending In Romania Won’t Revive Until The Fall Of 2014
The lending activity in Romania will not revive until the autumn of 2014, as banks are not ready to take additional risks before a new series of checkups of the central bank early next year, a senior central bank official said Thursday.
The central bank prepares a qualitative analysis of banking system assets, which will be followed by new stress tests, said Nicolae Cinteza, the head of the central bank’s Supervisory Department.
“Until we know the results of the asset analysis and the stress tests, I see no recovery in the lending activity,” Cinteza told a banking seminar.
“I believe the lending will not revive until September or October next year.” (Jurnalul National)
Chisinau Recognizes Romanian As Official Language
Moldova’s Constitutional Court Thursday ruled the “Moldovan” language will be replaced by Romanian as the country’s official language.
Romanian President Traian Basescu called the court ruling “an act of justice.”
Moldova was part of Romania until 1940, when it was annexed to the Soviets. Moldova declared independence from the crumbling Soviet Union in 1991. (Romania Libera)
Price Increases A Major Source Of Stress For Romanians
About 64% of Romanians say they are stressed and price increases are the main cause of worry, according to a survey conducted by Daedalus Millward Brown.
Stress levels in Romania exceed those in the Czech Republic (43.6%) and Slovakia (50.6%), but are lower than in Serbia (68.6%), Croatia (68.3%) and Turkey, the survey reads.
The main causes of stress are price increases (47%), the state of the economy (44.9%), debts (44.1%), lower income (40.6%) and current job (35.5%), Enescu added.
They are less stressed by their health (28%), family life (11.3%) and personal safety (4.7%).