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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 resumes upward trend, reaches 3.37pc per annum

The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has resumed the upward trend on Wednesday, reaching 3.37%, according to the figures released by the National Bank of Romania (BNR).

A similar value of the index was registered on Marh 5, 2014. Early this year the index was 2.05%. In the similar period last year, the level was of 0.87% per annum.

The 6-month ROBOR Index, used to calculate interest rates on mortgage loans, has remained steady at 3.48%. In early January the 6-month ROBOR Index was 2.05%.

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 stagnated at 3.52% per annum.

The 12-month ROBOR Index has climbed to 3.57%.

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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