For the first time in history, Romania on Thursday borrowed money at a negative interest rate, acting Finance Minister Florin Citu announced on Thursday at the opening of a government meeting.
The Federal Reserve raised its key interest rate Wednesday for the fourth time this year to reflect the U.S. economy's continued strength but signaled that it expects to slow its rate hikes next year.
The Board of the National Bank of Romania (BNR) decided at its meeting on Tuesday to maintain the key interest rate at the level of 2.50pct per annum and to maintain the current levels of the mandatory minimum reserves for liabilities in lei and in foreign currencies of credit institutions, the central bank announced.
Investors appear wary of the expansion of listed group Motor Oil into the domain of the media. The company's stock, one of the most reliable and stable securities on the Greek stock market, started sliding on the day after the announcement of the acquisition of a 50 percent stake in broadcaster Alpha TV, shedding almost 20 percent of its value in just two days.
Fitch has downgraded its assessment of four Turkish banks on Sept. 11 due to increased risks to the banks' performance following the recent market volatility and higher chances of a "hard landing" for the Turkish economy.
How do developed economies maintain their low interest rates?
Turkey's Ministry of Trade has said it launched probes into companies that hiked their prices "abnormally" amid currency volatility.