Romania's three-month interbank offered rate ROBOR, which is used for pricing floating rate consumer loans in RON, rose on Monday to 4.99% per year, from 4.39% per year on Friday (plus 2.3%), according to information published by the National Bank of Romania (BNR).
A similar raised level of ROBOR was noted on August 1, 2013 - 4.49% per year.
At the start of 2020, the ROBOR index at three months was 3.19% per year, and at the start of 2021, it sat at 1.98%.
The 6-month index, that is used for pricing floating rate mortgage loans, rose to 4.58%, from 4.48% per year in the previous session, and the 12-month ROBOR increased to 4.64% from 4.55%.
The Administration Council of the National Bank of Romania has decided to increase the monetary policy interest rate to the level of 2.5% per year, from 2% per year, starting with February 10, 2022, and to maintain firm control on liquidity in the currency market.
The reference index for consumer loans (IRCC), regulated by Emergency ordinance (OUG) 19/2019, is 1.17% per year, up from the one three months ago, of 1.08 pct; the IRCC is calculated as the arithmetic average of the daily interest rates of interbank transactions in the third quarter of the year.
OUG No. 19/2019 came into force in May 2019, modifying the way the interest rate for floating rate loans in RON is calculated and setting as benchmark the IRCC, calculated quarterly exclusively on the basis of interbank transactions, Agerpres informs.