Romania’s three-month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, rose on Tuesday for the third day in a row up to 3.32 percent, the highest level since August 8.
On Monday, 3-month ROBOR was 3.30 percent.
The 6-month ROBOR stood at 3.52 percent, the highest level since August 3.
Compared with the end of 2017, the 3-month index rose by 1.27 percentage point, from 2.05 percent.
Since October 1, National Bank of Romania did not inject liquidity into the money market through repo operations (government securities-backed lending to banks), a move designed to address liquidity shortage – and to cap interest rates in the market.
But this new surge of money market rates could trigger fresh intervention, according to analysts.
The 3-month ROBOR index reached a record low of 0.68 percent in September 2016.