Interests in the monetary market are likely to be restored to a more reasonable level next week, as the banks will start setting the required reserves, tax payment period will end, and NBR’s next monetary session is coming up soon, BT’s CEO said yesterday.

“It was an extremely volatile period. The interbank interests are very high, whereas I think the situation will calm down next week. Furthermore, NBR’s session is coming up” BT’s CEO, Robert Rekkers apprised on Thursday, without adding any forecasts on central bank’s next decision.

As of late last week, Romanian monetary interbanking marked was marked by a skyrocketing hike of interests hovering 100% per year, as certain banks in the market displayed interest even of 500-600%.

Robert Rekkers’ statement was made during the press conference of signing the agreement for a loan facility worth 102.5 million euros granted to BT through a syndicated loan leaded by IFC.

The loan from IFC amounts to 30 million euros, and the other initiators for granting the loan are Commerzbank, Landesbank, Berlin AG, Mashreqbank, Raiffeisen Zentralbank, Unicredit Bank Austria and Wachovia.

Translated by Camelia Oancea