The 3-month ROBOR index, based on which the cost of consumer loans in lei with variable interest is calculated, dropped to 8.06% per year on Wednesday, from 8.14% per year on Tuesday, according to information published by the National Bank of Romania (BNR).
The daily drop of 0.08% is the biggest 3-month ROBOR has seen in the past 20 months. A larger daily decline was recorded on January 18, 2021, when the index fell from 1.78% to 1.59%.
At the beginning of this year, the 3-month ROBOR index was 3.02% per annum.
The 6-month index, used in the calculation of interest on mortgage loans in lei with variable interest, dropped on Wednesday to 8.21% per annum, from 8.27%, and the 12-month ROBOR reached 8.33% per annum , up from 8.36% per annum on Tuesday.
Regarding the reference index for consumer loans (IRCC), regulated by GEO 19/2019, it is 2.65% per year, being calculated as the arithmetic average of the daily interest rates of interbank transactions from the first quarter of 2022, in increase compared to the one published three months ago, of 1.86%.
During the conference to present the quarterly report on inflation on Tuesday, the Governor of the National Bank of Romania (BNR) said that “the banks crossed the line and took the ROBOR above the key interest rate”. Moreover, Mugur Isărescu also declared that the time of low interest rates has passed.