Credit rates up. ROBOR at 3 months exceeded the 5% per year threshold

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The 3-month ROBOR index, according to which the cost of consumer loans in lei with variable interest rate is calculated, exceeded on Monday the threshold of 5% per year (5.01%), from the value of 4.95% registered on Friday, shows data published by the National Bank of Romania (NBR).

This is the highest level since April 2013. At the beginning of 2020, the 3-month ROBOR index was 3.19% per year, and at the beginning of 2021 it was 1.98%.

The 6-month index, used in the calculation of interest rates on mortgage loans in lei with variable interest rate, reached the threshold of 5.13% per year, and the 12-month ROBOR increased to 5.19% per year.

As for the reference index for consumer loans (IRCC), regulated by GEO 19/2019, it is 1.86% per year, being calculated as the arithmetic average of the daily interest rates of interbank transactions in the fourth quarter of 2021, in up from 1.17% three months ago.

The Board of Directors of the National Bank of Romania has recently decided to increase the monetary policy interest rate to 3% per year, from 2.5% per year and to maintain firm control over the liquidity of the money market.

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