ROL loans still expensive

Take out loans in dollars, because the interests on ROL loans kept going up without any decline in sight. This is the commercial banks’ message to their clients, while NBR is looking for macroeconomic reasons to officially give the green light to an interest rate cut. Average interest on ROL loans for individual clients on the banking market in March went up by well over half a percentage point to 30.6%, with no direct explanation for it, considering the central bank maintained the intervention interest and the level of minimal compulsory reserves constant. At the same time interest on loans in dollars froze at 9.2% a year for individual clients and at 4.7% for corporate clients. And that happened even though the inflation’s downward trend maintained (12.5% annual rate in April), which boosted the real margin of the interests on ROL loans even further. ZF