The three-month rate last reached this level in February 2018.
On Wednesday (August 5), the central bank lowered its benchmark interest rate by 25 basis points to 1.5% a year from 1.75% a year.
On May 20, 2020, the three-month rate fell to 2.43%, below the 2.44% level of the consumer loan reference index IRCC.
ROBOR is a monetary indicator used to calculate variable interests for loans in lei and interests for mortgage loans. Loans in lei with variable interests, granted before May 2019, depend on the variations of the ROBOR index.
The IRCC, which is defined as the quarterly average of interbank money market transactions, has replaced the ROBOR money market interest rate in the calculation of variable interests on new retail loans in lei at the beginning of May 2019.
Its initial vale was 2.36%, but subsequently, it had a fluctuating evolution. The IRCC level for the first quarter of 2020 is 2.41%, below the previous value of 2.44%.