Romanian central bank’s board of directors asks for meeting with PM

Romania’s National Bank (BNR) Board of Directors has asked for a meeting with prime minister Mihai Tudose to discuss the current economic and financial evolutions, according to the central bank. During its meeting on Monday, November 27, the BNR board took note of the prime minister’s statements on its activity. The PM said last week on Thursday that BNR should have intervened to stop the local currency’s depreciation against the euro. BNR allowed banks to reduce the mandatory minimum reserves, which may have contributed to the euro reaching record highs against the RON, Tudose argued. The local currency’s depreciation could also be “a revenge” of some banks. “Maybe it’s a revenge of a part of the banking system because we make them pay taxes,” Tudose said. In October, the governing coalition leaders also pointed the finger to BNR for the sudden spike in interbank interest rates (ROBOR). The local currency depreciation and the higher interest rates lead to a higher financial burden for Romanians with bank loans. editor@romania-insider.com