The three-month rate stood at 4.30% a year earlier this week and at 4.07% a year in early March.
The rate started 2022 at 3.02% a year. The increase of the rate up to the current level started on February 24 when Russia launched a full-scale invasion into Ukraine, at which time the rate grew from 3.56% on Feb 23, 2022 to 3.61% on Feb 24, 2022.
From that moment on, the three-month ROBOR saw a pretty steep upward trend until today, March 11, when it reached 4.36%.
The six-month ROBOR used in calculating variable interests for mortgage loans in lei stagnated at 4.42%, while the twelve-month ROBOR index, which represents the interest rate paid on loans in lei attracted by commercial banks from other commercial banks for a twelve-month period, stayed put at 4.51%.
The evolution of the ROBOR index is impacted by several factors among which the central bank’s monetary policy, the market liquidity, inflation and tax policy.