Romania’s 3-month ROBOR jumps to 3.09 pct, approaches 4-year high

Sorin Melenciuc 22/06/2018 | 11:22

Romania’s three month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, jumped on Friday to a new record high of the last three years and eight months of 3.09 percent, National Bank of Romania (BNR) data show.

The ROBOR 3M calculated for June 22, 2018, is the highest since September 30, 2014. The 3-month rate rose by 0.14 percentage point from the previous market session.

Compared with the end of 2017, the 3-month index rose by 1.04 percentage point, from 2.05 percent.

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

The 6-month ROBOR index rose from 3.07 percent to 3.16 percent on Friday, a record high since May 20, 2014.

On May 7, Romania’s central bank raised the monetary interest rate from 2.25 percent to 2.5 percent, the highest level since February 2015, in line with economists’ expectations, who see the decision as a consequence of upward revision of the inflation forecast.

Analysts say the 3-month money market rate should be above the central bank’s policy rate.

Romania’s central bank also had weekly open market operations during the last two months, absorbing excess liquidity in the market.

Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue