WOOD Flash – Romania macro: NBR extends rate hold
The Monetary Council kept the policy rate unchanged, at 7.00%, at its meeting yesterday (10 May), as expected, and the tone from the statement remained consistent with the broad stability of rates ahead. The latest economic data have reiterated that the economy is preserving considerable momentum and is on course to outpace the peer economies this year, thus making it challenging to return inflation to the 2.5% target in a timely manner. Liquidity conditions have been easing since late last year and the overall monetary stance is not as tight as the policy rate suggests. Looking ahead, we stand by our view that the policy rate will remain flat this year, at 7.00%, and the window for easing will only begin from the spring, taking the policy rate down to 6.00% by end-2024E.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
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