ZF English

Rising interest rates for RON and euro

10.06.2010, 20:19 4

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

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