February 11, 2019 / 11:00 AM / in 5 months

Romania cenbank recommends breaking the bank tax/ROBOR tie

BUCHAREST, Feb 11 (Reuters) - Romania’s central bank board would recommend the government to break the tie between its new tax on banking assets and the ROBOR interbank money market rates index, central bank Governor Mugur Isarescu said on Monday.

Isarescu was critical of the new bank tax which is tied to and has caused steep falls in asset prices. The tax also amplified the leu currency’s fall to record lows on the back of rising budget and current account deficits.

Reporting by Luiza Ilie; writing by Radu Marinas

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