The National Bank's interest rate increases have had a reduced impact on lending in the wake of public optimism over higher incomes. However, the tightening of lending conditions by the commercial banks will slow down the lending growth rate this year, according to the participants in the seminar entitled "Interest rate increases - brake for lending or just a slowdown?" organised by Ziarul Financiar in partnership with Banca Romaneasca and law firm Norr Stiefenholder Lutz and Coface. 2008 is expected to be the year of mortgage loans, which will outpace consumer loans. The main issues regarding lending for the population, which participants at the seminar organised by ZF singled out were the rise of consumer lending and maturities, and the exposure to foreign exchange risks. The foreign exchange risk is the main concern for loans taken out by the population, given the increasingly high share held by lending in foreign currency in the overall retail lending. However, corporate lending is more responsive to interest rate increases. Nonetheless, amid a steady increase in interest rates for loans, the reports of the Central Bank suggest that the corporate segment would be able to stand moderate shocks.
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