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3-month ROBOR Index further up to 2.75pc

The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has climbed on Thursday to 2.75% per annum, up from 2.73% on Wednesday, 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 Thurday to 2.88%, up from 2.87% per annum on Wednesday. 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 2.92%, up from 2.91% in the previous session.

The 12-month ROBOR Index has also increased to 2.97%, up from 2.96% 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.

BNR Governor, Mugur Isarescu, said on Wednesday, referring to the ROBOR, that it is at a record low level. “The record you point to is the low ROBOR. (…) One can say the other way: It’s not that they (the payers of loans from the banks – our note) will pay by RON 100 more, but that they paid RON 100 less in the previous month,” Isarescu said.

Analysts forecast that the 3-month ROBOR Index will exceed 3% this year, stiri.tvr.ro informs.

 

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