Bankers in October made RON and euro loans to the consumers morethan half a percentage point cheaper, with interest rates goingdown to 12.2% and 5.9% per annum, respectively, after they hadduring previous months pushed up loan costs in a bid to covercharges related to the implementation of Ordinance 50, which setmore transparent conditions for loans.
After these adjustments, interest rates are close to the year'slows, reached in early summer.
"We noticed a downward loan cost trend in November, as well. Ingeneral, large and medium-sized banks are more aggressive when itcomes to these interest cuts, while many small players preferkeeping costs stable," stated Anca Bidian, general manager of KiwiFinance credit broker.
The falling loan interests come as inflation growth has lostmomentum, which allowed banks to pay less for funds raised fromcustomers. The average interest for RON deposits reached 7.39% inlate October, from 7.51% in September, according to NBR data.
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