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Ghetea expects interest rates to deposits and credits in lei to drop next year

The president of the Romanian Association of Banks (RAB), radu Ghetea, expects next year to mark a drop of interest rates for deposits and credits in lei. He says that in the present period, some banks have reduced interest rates and others chose higher levels.

“We have now a situation slightly different from what we were used to, when banks were going to the same direction when changing interest rates for deposits. A certain separation appeared and some banks reduce interest rates while others prefer to remain at high levels and even negotiate higher interest rates”, Gheta said at a press conference on economic matters.

He says it is normal to have a certain interest in local deposits in the present international situation when some European banks said their branches have to so with local resources. “I think for 2012 we will see a drop of interest rates for deposits and credits,” Ghetea added.

The RAB representative pointed out that BNR “will take action” about the monetary policy interest rate and the level of minimum compulsory reserves. He added he referred to the drop of interest rates for lei not foreign exchange. “The first signs of low interest rates for credits in lei have appeared,” the RAB president said. He added that in the conditions of the new credit regulations for natural persons low interest rates are very important for credits.

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