Central bank scalpers or what?!
Romania’s central bank boss has won plaudits for a career that’s set to extend beyond three decades. But he’s not taking the credit for a bumper year of profits that exceeded most of the country’s commercial lenders. The 1.2 billion lei ($280 million) windfall, according to Governor Mugur Isarescu, stems from managing Romania’s foreign-currency reserves. And the praise should go to a group of about 30 people who’ve balanced liquidity with profitability and navigated the tricky world of negative interest rates. “This team of boys with brilliant minds scroll up and down through their monitors, looking ... (full story)