“A few years ago, when the nominal interest rates were around 6%-7%, the inflation rate was similar, giving a real interest rate of about 1%. Now, we have nominal rates of 1%-1.5%, but the inflation is below 1% and it may turn negative over the next few months, or even quarters… the real interest rate could be bigger than in the recent past,” Isarescu told a banking conference.
The governor also said the banks’ fee and commission policy should not discourage depositors. “A reduction of commission is one of the central bank’s concerns,” Isarescu said.
There is no reason for payments in Romania to be more expensive than in the rest of Europe, the central bank’s chief also said.