Romania Ctrl Bank Head Says Interest Rates On Deposits Too High

„The rates should be exactly as they are. They are even too generous,” Isarescu told reporters when asked about a possible evolution of bank interests on leu-denominated deposits.

The International Monetary Fund recently revised its target on Romania’s annual inflation to 7.9% in 2010 from 3.5% previously, following the enforcement of a five percentage point increase in the sales tax rate to 24%

In light of the new forecast, the current bank rates on deposits would become negative real rates.

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