From August 14 until now, the three-month ROBOR has remained unchanged at 6.40% after reaching 6.41% on August 11, 2023.
The three-month index remains above the IRCC consumer loan reference index, which 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), comparable with the IRCC value of 5.94% for the third quarter of 2023.
The six-month ROBOR, used in calculating variable interests for mortgage loans in lei, started October flat, at 6.50%, the same as the 12-month ROBOR index which also started October flat, at 6.63%, in line with central bank data.
So far, the pace of decline has been pretty slow, despite record liquidity surpluses, of almost RON25 billion in daily average in the eight months of 2023. The record level touched by this index in 2022 was 8.21% in October 2022, as per central bank data.
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.