The rate stood at 5.01% a year in early May 2022 and at 4.60% a year in early April 2022.
The three-month ROBOR started the year at 3.02%. The rise towards the current level began on February 24, when Russia attacked Ukraine, with the index going from 3.56% on February 23 to 3.61% on February 24, 2022. Since then, the ROBOR has followed an upward trend, with only few days of stagnation.
The trend of the ROBOR index is impacted by several factors among which the central bank’s monetary policy, the market liquidity, inflation and tax policy.
Financial analysts polled by CFA Romania expect the three-month ROBOR index to reach 5.41% over the next 12-month horizon.
The IRCC, which is used by banks to calculate interest rates for new loans taken out starting with the spring of 2019, was set at 1.86% for the second quarter of 2022. The IRCC is computed as a daily mean based on interest rates of all interbank transactions, representing the weighted mean of transactions. The IRCC, the reference index for household mortgage and consumer loans, was introduced in May 2019 to better reflect the situation on the banking market.