Banks borrow cheap, when will loan interests drop?

Companies with RON-denominated loans, as well as individuals with interest rates tied to the one-month ROBOR can see chances of loans cheapening on the market after a week when interest rates at which banks lend to each other went down to new lows owing to the liquidity surplus, likely to stay down for a longer period of time.

Banks currently pay a 3.59% interest rate per annum to raise RON for 30 days on the interbank market (the one-month ROBOR), whereas six months ago interest rates topped 6.8% per annum. Moreover, the interest decline on short term is starting to spread to three and six-month terms, seen as benchmark ones when setting the cost of RON retail loans, but on this segment the movement is still shy and there are expectations that major fluctuations should not be registered in the coming period.
The lower interbank interest rates will not reflect in loan costs too soon, though, analysts say, as for the sums raised on longer periods, of six months or one year, the interest decline is still limited.