6-month ROBOR Index up to 2.89pc, record high of the past three and a half years

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The 3-month ROBOR Index, according to which the cost of variable-yield loans in RON is calculated, has stagnated at 2.74% on Monday, for the fourth consecutive day, but the 6-month ROBOR Index soared to 2.89%, the highest level since October 2014, according to the figures released by the National Bank of Romania (BNR). On Friday, the index stagnated at 2.74%. This is the highest level since October 14, 2014, when it was 2.91%.

The 6-month ROBOR Index, used to calculate interest rates on mortgage loans, has increased on Monday to 2.89%, up from 2.88% per annum on Friday. In early January the 6-month ROBOR Index was 2.05%, in the similar period in 2017 the index was 0.87%.

On May 7, the BNR announced the increase of the monetary policy rate from 2.25% to 2.50% per year.

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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