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

6-month ROBOR Index up to 2.42pc, highest level since October 2014

The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has remained steady at 2.09% on Friday, for the third day in a row, according to the figures released by the National Bank of Romania (BNR). On December 27, 2017 the level was of 2.10%.

However, the 6-month ROBOR Index, used to calculate interest rates on mortgage loans, has reached 2.42% on Friday, the highest level since October 31, 2014, when it peaked to 2.45%.

In early January the 6-month ROBOR Index was 2.05%.

At the end of December 2017, the index was 2.22% and in early January was of 2.05%.

BNR has increased the monetary policy interest rate in early February from 2% to 2.25% per annum.

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 RON loans.

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