BCR: There’s still room for cutting interest rates for deposits

The interest rates at bank deposits will go down in the upcoming period and for loans on certain segments, say officials of the Romanian Commercial Bank.

‘The interest on bank deposits may still go down, allowing for the lowering estimates in the future of the interest of monetary policy, ‘ said on Tuesday CEO of the department of business development and retail products of BCR, Sorin Mititelu.

‘There’s still room for reduction in interest as regards liabilities, anticipating new reductions of the interest of monetary policy. I don’t think by the end of the year the interest for deposits will lower below the key interest,’ said Mititelu.

He stressed that at present the average of interest paid by BCR for term deposits is of 9.2 percent a year.
BCR’s monetary policy interest is at present of 8.5 percent a year.

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