ROBOR reaches record level in the last 12 years reached in August

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The 3-month ROBOR index, based on which the cost of consumer loans in lei with variable interest is calculated, rose to 8.17% per year on Friday, from 8.15% per year on Thursday, according to data published by the National Bank of Romania (BNR).

At the beginning of this year, the 3-month ROBOR index was 3.02% per annum. A continuous growth followed for 8 months, the index reaching in the first part of August the value of 8.14% – the maximum of the last 12 years. Then, the message sent by the BNR governor stopped the growth of the index and triggered a slow decline, accompanied by long periods of stagnation. 3-month ROBOR spent about 8 weeks in the 7.90-8% range.

The increase of the reference interest rate by the NBR, on October 5, from 5.50% to 6.25%, triggered a new increase in ROBOR. On October 5, the index was at the value of 7.92%, then daily increases followed.

The 6-month index, used in calculating interest on mortgage loans in lei with variable interest, rose to 8.27% per year, from 8.24% the previous year, and the 12-month ROBOR reached the level of 8, 37% per annum, from 8.36%.

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