Millennium Bank clients can now pay cost free their Romtelecom bills through the Internet Banking service provided by the bank. rnrnThe new feature of the Internet Banking service includes a predefined form where the clients are required to fill in the data from the bill and the amount. The payment is confirmed automatically by Millennium Bank to Romtelecom.rnrnThe project is a result of Millennium Banks efforts to always provide additional benefits to clients. We found the same attitude in Romtelecom, so we started working on the new feature of our Internet Banking service, said Dana Feher, Head of Corporate Products Development. We are planning to further extend the collaboration with Romtelecom, added Dana Feher.rnrnMillennium Banks Internet Banking service is fully available 24/7 and allows the customers to administrate all the products they have contracted from the bank. The clients have access to all their accounts, deposits, cards or loans, and can perform any kind of transactions pay bills and loans instalments, create deposits etc. rnrnThe service also allows the clients to predefine a list of transfers beneficiaries, to modify the card PIN and the ATM and POS transaction limits. All the transactions are operated in real time and the updated list of transactions is available immediately after performing each operation. The service can be accessed from any type of computers, including Macintosh, using any version of a wide range of internet browsers.rnrnTo meet its customers needs, Romtelecom developed in time a diversified range of payment tools and an extended network of locations for the invoices payment, registering at this moment over 20,000 cashing points.rnrnMillennium Bank, part of the leading financial private group in Portugal, Millennium bcp, started its activity on the Romanian market on October 11, 2007, by simultaneously opening 39 branches in Bucharest and in other eight cities of the country. Now, Millennium Bank has 73 units throughout Romania, addressing individuals, companies and Private Banking clients, by an extensive range of products.rnrnMillennium bcp is a success story in European banking. Founded in 1985, Millennium bcp registered, at the end of March 2009, net assets of EUR 93.1 billion. Millennium is Portugal’s leading private financial group and one of the top 100 in the world, and is listed on more than 40 national and international stock market indices with emphasis on the Euronext PSI Financial Services, PSI-20, DJ Eurostoxx banks, Bebanks, and Euronext 100, of the Lisbon, Paris, Brussels and Amsterdam Stock Exchanges.rnMillennium bcp has a network of over 1,800 units in 15 countries and more than 22,200 employees.rnrnMillennium bcp provides a wide range of products and services, namely savings, investment, mortgage loans, consumer credit, commercial banking, leasing, factoring, insurance, investment banking, private banking and asset management, serving its customers on a segmented basis. Emphasis is given to the Internet banking service, which has been distinguished in Europe for its quality and innovation. Since its incorporation, Millennium bcp has been renowned for its dynamism, innovation, competitiveness, profitability and financial strength. It has made its mark as the top leader in several financial business areas on the domestic market and as reference in the distribution of financial products and services on an international level. rnrnOver the years, Millennium bcp expanded its global reach through operations on international markets, namely on European markets of high growth potential, such as Poland (Millennium bank), Greece (Millennium bank), Turkey (Millennium bank) and, recently, Romania (Millennium bank). At the same time, Millennium bcp develops other autonomous operations on diversified geographic markets, either with strong historical relations with Portugal or on ethnic markets with relevant presence of Portuguese communities, namely Millennium bim (Mozambique), Millennium Angola (Angola) and Millennium bcp Bank (USA). rnrnAll operations are carried out under the Millennium brand. Millennium bcp is committed to building up a truly multi-domestic bank of supra-national identity, with a focus on the creation of value on markets selected on the basis of a controlled risk profile and high growth potential, to become internationally recognized for excellence and innovation in the distribution of financial products and services.rnrnRomtelecom is one of Romania’s largest telecommunications companies and a leader in the fixed communications market, offering reliable, innovative and easy-to-use services, from traditional fixed telephony, broadband Internet and digital TV, to the most secure hosting data center in Romania, voice and data bundled services. More details about Romtelecom and its services are available on www.romtelecom.ro, in Romtelecom shops or by calling 1930 (free call in the Romtelecom network).rn
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The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
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