The three-month ROBOR has not moved from 6.54% since June 26, after having stayed at 6.55% from May 24 through June 26.
The central bank board decided to keep the key rate at 7% on May 10, as well as leave the (Lombard) lending facility rate unchanged at 8% per year and the deposit facility rate unchanged at 6%.
The three-month ROBOR has been mostly going down since the beginning of the year but there were also days when it remained flat, central bank data show.
The last time the three-month index was below the 7% threshold was on July 13, 2022.
The six-month ROBOR, used in calculating variable interests for mortgage loans in lei, stayed at 6.63% in June, while the 12-month ROBOR index stayed at 6.83%.
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.
The IRCC, which is used by banks to calculate interest rates for new loans taken out starting with the spring of 2019, reached 5.98% in the second quarter of 2023 (calculated based on data of the fourth quarter of 2022), as per central bank data. In the third quarter of 2023, which means until September 2023, the IRCC will stay below 6%, but it is expected to drop to 5.94%, considering the data released by the central bank for the first quarter of 2023.
(English version by Loredana Fratila-Cristescu)