Central bank governor: Lending pace to slow down

Governor of the National Bank of Romania (BNR) Mugur Isarescu said the pace of lending would slow down by year-end, following the measures taken by the central bank.
“A slowed down pace of lending is natural because the basis is different, the volume reached by loans at present helps us, and also due to the measures taken by the central bank to make borrowing more expensive”, Isarescu said late on September 11, while attending a book launch at the BNR headquarters.
The governor explained that the foreign exchange lending had been “the big problem”, with such lending to also see a slowed down rate.
“The essential issue was the foreign exchange lending. This was the big problem. It will slow down amid the moves made by the BNR and also due to the fact that the parent banks have become more cautious”, Isarescu stressed.
The consumption figures released on September 11 point to “a slowed down” consumption as a result of the basis effect and of the measures taken by the BNR, he said.

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