The increase comes after Romania’s central bank on Tuesday raised its benchmark interest rate to 3.75% a year from 3% a year previously. The central bank also raised the interest rate for its deposit facility to 2.75% a year from 2% a year and the interest for its (Lombard) lending facility to 4.75% a year from 4% a year, applicable as of May 11.
The three-month rate has increased by 7.18% since the beginning of May and by almost 78% since the beginning of 2022 when it stood at 3.02%, in line with calculations by Ziarul Financiar (ZF) daily based on central bank data.
The six-month ROBOR used in calculating variable interests for mortgage loans in lei, jumped to 5.50% on Wednesday from 5.32% on Tuesday.
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, soared to 5.69% a year on Wednesday from 5.41% a year on Tuesday.
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.