May 5, 2017 / 5:36 AM / 7 months ago

Romania - Factors to watch on May 5

BUCHAREST, May 5 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Friday.

INTEREST RATES

Romania’s central bank holds a rate-setting meeting. It is widely expected to keep its benchmark interest rate on hold at a record low 1.75 percent.

DEBT TENDER

Romania sold a more than planned 445.2 million lei ($107.13 million) worth of April 2024 treasury bonds on Thursday, with the average accepted yield at 3.46 percent, central bank data showed.

BRD

Romanian lender BRD Groupe Societe Generale recorded a first-quarter net profit of 306.9 million lei ($73.57 million), sharply higher from 62.8 million lei in the same period of 2016 due to falling costs, higher interest rate revenue and new loans.

The overall net profit of the BRD group, which includes leasing and asset management, stood at 330 million lei, roughly 4.5 times higher on the year.

CEE MARKETS

The crown eased, while other Central European assets were mixed, after the Czech central bank (CNB) said on Thursday that the strength of the currency will be a key factor in whether it will need to lift interest rates.

NO CORRUPTION PARDONS

Romanian senators on Thursday rescinded a proposal they approved a day earlier which called for a draft bill on prison pardons to include corruption offences.

CONSTITUTIONAL COURT

Romania’s Constitutional Court rejected on Thursday a request by the country’s ombudsman to strike down a law that bars people convicted of a criminal offence from joining the government. The law has prevented the leader of the ruling Social Democrats, who has a suspended sentence in a vote rigging case, from becoming prime minister after a sweeping election victory in December.

PETROMIDIA REFINERY

Rompetrol Rafinare will shut down its Petromidia Navodari and Vega Ploiesti refineries for maintenance and upgrades during May 3-22.

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