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Lazea: Banks offer small deposit interest rates as there is no attractive investment choice

Commercial banks on the domestic market can afford not to offer stimulating deposit interest rates because, apart of the real estate sector, there are no attractive alternative investments, pointed out on Tuesday Chief economist of Romania's National Bank (BNR) Valentin Lazea on the occasion of a roundtable on the current account deficit.

He said that Romanians have as choices, apart of consumption, either to keep their money in the banks, or to invest in the real estate sector. BNR official also said that the banks' policy deals with the savings issue in Romania and appreciated that commercial banks will realize they 'are playing with the fire' and cannot receive all the time money from abroad, from the mother-banks. Credits imported from abroad, from the mother-banks, by the commercial banks operating in Romania are financing the current account deficit, but at the same time 'inflates' it, underlined BNR Chief economist. In his opinion, in 2008 there is the likelihood that the banks' appetite to bring credits from abroad will be tempered by the financial turmoil on the international markets. Sursa: http://www.rompress.ro

Tags: banks there bnr