3-month ROBOR Index, lowest level since March 20
The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has decreased on Tuesday to 3.13%, according to the figures released by the National Bank of Romania (BNR). It is the lowest level since March 20. On Monday, the index had fallen to 3.15%.
The 6-month ROBOR Index, considered in order to calculate interest rates on mortgage loans, has stagnated at 3.31%.
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 leads to an increase of instalments for loans in national currency.
Earlier this year BNR published the quarterly consumer credit reference index (IRCC), which replaced ROBOR in the calculation of interest rates on the majority of RON loans. Its value for the first quarter of 2019 is on the rise to 2.63%, up against 2.36% in the last quarter of 2018.