The decrease is marginal, of just 0.02 percentage points, but it marks the first decline of the index after several quarters in which IRCC stayed high amid high interest rates on the monetary market.
IRCC (Reference Index for Consumer Loans) is calculated as a quarterly average based on the daily average interbank transaction rates and is applied with a one-quarter delay from the latest collected data.
The three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, as well as for companies’ leu-denominated loans, stays put at 5.84% on July.
The six-month ROBOR, used to calculate variable interest rates for mortgage loans in lei, stands at 5.92% and the 12-month ROBOR at 5.98%.