Rising interest rates for RON and euro

Clients paying loan instalments are starting to feel the pinch of financial market jitters, as interest rates are climbing again for RON, but also for euro. Interbank monetary market indicators, both domestically, Robor, as well as of the euro zone, Euribor, are again rising after they had plunged in spring, meaning that clients with loans whose cost is linked to them are also facing rising instalments. "Currently, there is a negative sentiment globally that is sowing lack of confidence in financial markets and manifesting through the exchange rate, interest rates and sovereign risk premiums. Let's hope we'll not reach again the sovereign risk premiums of the Lehman Brothers period, because this would inevitably reflect in the costs clients bear for taking out loans," says Ionut Dumitru, chief economist of Raiffeisen Bank. Robor indicator for three-month maturities has currently climbed to 6.8% per annum, after sliding to a one-year low of 4.7% per annum in April.