Three-month interbank offered rate continues to drop to 7.98 ppa on Friday

Romania's three-month interbank offered rate ROBOR, which is used for pricing floating rate consumer loans in RON, dropped on Friday to 7.98 ppa, from 8.02 ppa on Thursday, the National Bank of Romania informed.

At the beginning of 2022, the three-month ROBOR was 3.02 ppa.

The 6-month index that is used for pricing floating rate mortgage loans moved down to 8.13 ppa from 8.19 ppa, while the 12-month ROBOR also dropped to 8.27 ppa from 8.30 ppa on Thursday.

The Consumer Credit Reference Index regulated by Emergency Ordinance No. 19/2009 is 2.65 ppa, as to 1.86 ppa three months ago; the index is calculated as the arithmetic average of the daily interest rates of interbank transactions in Q1 2022.

Central bank governor Mugur Isarescu said on Tuesday, at the conference for the presentation of the Inflation Report, that the banks have rather gone overboard with the ROBOR, overshooting the key rate.

Under these conditions, the BNR governor sent a personal message to the banks: to look more carefully at the messages of the National Bank. He said he "hopes and believes" that then the 3-month ROBOR will get near the monetary policy rate.AGERPRES