Misery loves company

I wrote here that I do not think Romania can avoid recession, not just a technical one, in 2012.

Assessing NBR’s policy, some tough preliminary conclusions

As usual, before every NBR interest rate decision economists/analysts/journalists will take their shot at guessing what that decision will be. As Chief Economist for a commercial bank I was guilty of participating in this very narrow interpretation of monetary policy. Today “freed” from those shackles I can ask the really important question: Is monetary policy Romania loose or tight?