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

Update: 3-month ROBOR Index soars to 2.42pc, the fourth consecutive day of growth! PM Dancila to meet BNR Governor next week

The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has increased to 2.42% on Tuesday, up from 2.28% on Tuesday, according to the figures released by the National Bank of Romania (BNR). A similar value was registered on October 24, 2014, of 2.42%.

The 6-month ROBOR Index, used to calculate interest rates on mortgage loans, has increased from 2.52% to 2.54%. 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, is up to 2.60% from 2.57% a day before.

The 12-month ROBOR Index is up to 2.65% from the previous 2.62%.

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 in the case of loans in national currency.

FinMin Teodorovici: We will see the central bank’s arguments

Finance Minister, Eugen Teodorovici, said on Wednesday about the 3-month ROBOR Index increase, which reached 2.28%, that this issue will be discussed next week by Prime Minister Viorica Dăncilă and BNR Governor Mugur Isărescu.

“Next Thursday there will be a meeting between the Prime Minister and the central bank Governor and his team. It will be a discussion about ROBOR, but also about other topics. You know the ministry or the Government are not to blame. This is in BNR’s courtyard. We will see the central bank’s arguments so that things will change,” Eugen Teodorovici said, after having participated in a debate organized by the National Agency for Public Procurement (ANAP).

 

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