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Financial banking analysts anticipate new cut of key interest rate

Financial banking analysts anticipate a new reduction of the monetary policy rate by the Central Bank, with 50 percentage points, to 6.5 percent.

Romania's National Bank (BNR) Board meets on Monday in its regular sitting, in order to examine evolutions on the market and the trend of inflation for the upcoming period.

BNR has all the reasons to lower the monetary policy rate because inflation has the tendency 'to climb down', but we also have to take into account the passive rates given by the commercial banks, stated recently BNR Governor Mugur Isarescu. BNR official explained that the National Bank has to watch the inflation rate and deposit rates given by the commercial banks which are supposed to be above the inflation rate and below the monetary policy rate.

According to Isarescu, interest rates for population's deposits should be somewhere below six percent.

'The banks still have too high interest rates for deposits and are very cautious when they cut them. And for BNR it would be abnormal to take bigger steps. We are going to follow a downward trend gradually and the commercial banks would come below us for deposits and somewhere above for loans, if the current situation in terms of liquidity field continues', explained Isarescu.

Sursa: http://www.agerpres.ro

Tags: bnr interest

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