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RON loans rates in accelarated growth, as 3-mo ROBOR index hits record high

3-month ROBOR Index slightly down, other indices continue upward trend

The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has slightly decreased on Tuesday to 2.74% per annum, down from 2.75% on Monday, according to the figures released by the National Bank of Romania (BNR).

Early last week the index was 2.54% and grew to 2.75% on Thursday, taking one small step down on Friday to 2.74%. Early this year the index was 2.05%, during the same period last year it was 0.91%.

The 6-month ROBOR Index, used to calculate interest rates on mortgage loans, has increased on Tuesday to 2.88%, up from 2.87% per annum on Monday. 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 grown to 2.91%, up against 2.90% 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 on Monday.

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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