BCR head: financial crisis to have limited impact on Romania

The international financial crisis will be felt in Romania on short term only and will have a limited impact here, Dominic Bruynseel, executive head of the Romanian Commercial Bank (BCR), said on Monday, quoted by Romanian news agency Newsin. The impact of the crisis will be felt mainly on high-level credits and loans.

He said Romania was largely isolated from the effects of the crisis as a central bank decision to increase the key interest protects the banks, which are a bit more conservative anyway, he said.

The BCR head supports the central bank decision to increase the key interest to 10.25% yearly and expects it to go down with inflation.