Press Review - January 3, 2019

01.03.2019 By Oana Gavrila

Money Market Rate Grew as Much as 50% in 2018

The money market interest rate was the center of attention throughout 2018, with growth sometimes exceeding 50%.

The ROBOR (Romanian Interbank Offer Rate), the average index of interbank interest rates is calculated daily using quotes of ten local banks selected by the central bank.

The three-month rate, an index used to calculate loans in lei with variable interest, ended 2018 at 3.02%, nearly one percentage point higher than at the end of 2017, growing 47.3% throughout the year.

The rate was at its highest, 3.47%, for five working days between July 30 and August 3, while its lowest rate was 1.97% in January and early February.

The three-month ROBOR rate averaged 2.03% in the first quarter, 2.63% in the second quarter, 3.28% in the third quarter, and 3.17% in the fourth quarter.

The six-month rate, used on mortgage loan interest calculations, ended 2018 at 3.30%, up 45.4% from end-2017, when it stood at 2.27%.

Justice Min Says Would Not Endanger Romania

Romanian justice minister Tudorel Toader said he would never do anything that would endanger the country when asked about a decree on pardoning and amnesty for corruption offenses.

Toader said in an interview for cable news network Antena 3 he does not feel pressured by ruling party leader Liviu Dragnea who reproached his lack of a decision on a pardoning decree.

Social Democrat Presidential Candidate Could Win, Says Education Minister

Social democrat education minister Ecaterina Andronescu said a social democrat candidate in the presidential election has every chance to make it to the second round and even win, considering the party's wide support among voters.

Andronescu said in an interview on cable news network Antena 3 chances grow if the ruling alliance decides to back a single presidential candidate instead of each coalition party backing its own, but a decision has not been reached in this matter.

Social democrat party leader Liviu Dragnea said on December 27 he does not rule out coalition party leader Calin Popescu-Tariceanu running for president on behalf of the ruling coalition.