BNR Board

Governor of the National Bank of Romania (BNR) Mugur Isarescu sent Parliament a letter requesting the introduction in the bill adopted by the government that prohibits public employees from collecting both wage and pension, of an exception allowing the members of the BNR Board to work beyond the age of 70.

The large-scale shutdown in many economic sectors, in an effort to limit the spread of the COVID-19 pandemic, as well as the sharp compression of consumer demand, along with the decline in foreign demand, make a severe contraction of the Romanian economy in Q2 very likely, read the minutes of the Central Bank's Board monetary policy meeting published on Friday.

The Board of the National Bank of Romania (BNR) decided Friday in an emergency monetary policy sitting, to cut the key interest rate to 2 per cent, from 2.5 per cent, as of 23 March 2020, a release by the central bank informs.