MONETARY POLICY
Analysts expect a 50bp rate hike (the median expectation in the Bloomberg survey) at the monetary board meeting of the National Bank of Romania (BNR) on Tuesday (Nov. 8), the last one for 2022, with “significant” chances seen by some for a more hawkish 75bp move.
CAPITAL MARKET
-The International Investment Bank announced it redeemed its RON 500 mln (EUR 100 mln) bonds with a coupon of 3.98% when they matured on November 1. Issued in 2019 and listed on the Bucharest Stock Exchange, the bond was the largest in volume among the five such instruments on the Romanian market.
-Romania’s finance ministry raised RON1.23 billion on Monday (Nov. 7) through two government bond issue, at annual average yields of 9.13% and 9.43%, according to the National Bank of Romania (BNR).
INVESTMENTS
-Returns expected by investors remain high, but the advance is moderate, as the cost of capital maintained its ascending path in the third quarter of 2022, an EY Romania analysis revealed.
-Almost all of Romania’s airports are carrying out or are set to start expansion and overhauling works, Ziarul Financiar reported with the total value of investments in local airports topping EUR600 million.
