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ROBOR rapid growth: The three-month index reaches 1.58pc. Interest rates up by nearly 50pc since Monday

3-month ROBOR Index continues upward race to 2.73pc, highest level in three and a half years

The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has climbed on Wednesday to 2.73% per annum, up from 2.68% on Tuesday, according to the figures released by the National Bank of Romania (BNR).

A higher level was recorded on October 15, 2014 of 2.77% per annum.

In the same period last year, the index was 0.91%.

The 6-month ROBOR Index, used to calculate interest rates on mortgage loans, has increased on Tuesday to 2.87%, up from 2.80% per annum on Tuesday. In early January the 6-month ROBOR Index was 2.05%, in the similar period in 2017 the index was 0.87%.

The 9-month ROBOR Index, representing the interest rate paid for the loans in RON attracted by the commercial banks from other commercial banks for a nine months period, has also climbed to 2.91%, up from 2.83% in the previous session.

The 12-month ROBOR Index has also increased to 2.96%, up from 2.86% per year in the previous session.

The National Bank of Romania Board decided on Monday to increase the monetary policy interest rate to 2.5% per year, up from 2.25%, as of May 8.

ROBOR (Romanian Interbank Offer Rate) is the average interest rate for loans in national currency granted on the interbank market, and the increase of this indicator will lead to an increase of instalments for loans in national currency.

 

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