Rates on Romania's money market should return to lower levels next week, bank manager deems

Interest rates on the money market are expected to drop to lower values with the beginning of a new set-up period of minimum mandatory reserves, the conclusion of tax payments and the up-coming monetary policy session of Romania's central bank (BNR), Banca Transilvania GM, Robert Rekkers says.

However, Rekkers did not make any predictions on the decisions of BNR.

The interbank money market in Romania saw a boost in interest rates in the past week to values exceeding 100 percent per year, with some banks even posting rates of 500 – 600 percent.

Banca Transilvania, the fifth Romanian lender by assets, inked an agreement for a credit worth 102.5 million euros from the International Finance Corporation, a member of the World Bank Group.

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