Commercial banks are set to cut interest rates on loans in the coming weeks. Yet, the cut will only be operated on Romanian Lei (ROL) loans. Another cut in interests is being prepared for deposits.
The decision to reduce banking interests follows the National Bank of Romania (BNR) having gradually cut the intervention interest from 21.5% to 18.75%. Nonetheless, the effects of cheaper loans will only be notable for the short- and medium-term loans, as loans with maturity dates over 5 years already benefit from an advantageous interest rate.
Economic analysts claim the central bank’s four interventions in the past two months are obviously designed to support the national currency.
Source: Nineoclock.ro
