Romania’s 3-month ROBOR back on rising trend, hits 2-week high

Sorin Melenciuc 23/08/2018 | 12:18

Romania’s three month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, rose on Thursday for the second day in a row up to 3.31 percent, a two-week high.

The 6-month ROBOR increased by 0.01 percentage point to 3.44 percent, the highest level since August 10.

Compared with the end of 2017, the 3-month index rose by 1.26 percentage point, from 2.05 percent.

Earlier this month, the central bank of Romania kept rates on hold at 2.50 percent, despite experts’ call for an increase.

The 3-month ROBOR index reached a record low of 0.68 percent in September 2016.

Economists say that the rise of Romania’s money market rates is due to temporary liquidity shortages at the end of each month, when companies pay taxes.

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