The three-month rate remained unchanged at 6.40%, from August 14 until October 23 after reaching 6.41% on August 11, 2023.
The six-month ROBOR, used in calculating variable interests for mortgage loans in lei, too ended the month lower, at 6.42%, after reaching 6.44% on Monday. The 12-month ROBOR index ended October at 6.53%, down from 6.55% the previous day.
The IRCC, which is used by banks to calculate interest rates for new loans taken out starting with the spring of 2019, stays below 6% until the end of 2023, at 5.96%, as announced by the country’s central bank for the fourth quarter of 2023 (computed based on data from the second quarter of 2023).
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 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 highest the three-month ROBOR reached in 2022 was 8.21% in October, central bank data show.
(English version by Loredana Fratila-Cristescu)