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The banking rates grow: the ROBOR indicator for 3 months came back to 1% after 20 months under this threshold

The ROBOR indicator for three months which decides the way in which the interests are calculated for most of the consumption loans in lei, which went up on Monday 18 September up to 1% per year, maximum level not known from 5 January  2016, from 0.95 – 0.98% in the previous meetings, show the data of the National Bank of Romania (BNR).

ROBOR 3 for three months is the main indicator which decides the variable interests for the loans in lei.

The indicator is quoted on Monday at 1% per year from the level of 0,98 recorded in the meeting on Friday. The level of 1% was not recorded after the meeting of 5 January 2017.

Between 23 – 25 October 2016, ROBOR for three months reached the minimum historic level of 0.68 – 0.69% so that later it will grow gradually, up to 0,8 – 0,9% at the beginning of the autumn 2017.

The interests came back on the growing trend from the end of August, even if the increase stopped for a period around 0,8% for ROBOR for three months.

The inter-banking interest ROBOR is one of the main elements of the creditation costs which as a rule is added to the commercial interest offered by the financers in loan contracts. In the loan contracts, the cost of financing is made up of commissions and the commercial interest plus ROBOR ( in case of foreign exchange, the commercial interest plus EURIBOR) the ROBOR element being such the factor which influences the price of loans in lei.

The history of the ROBOR indicator shows that in 2005 this was 7,5% and had a steep drop down to 1% om January 2016, under 0,7% respectively in October 2016, then it came back at present at 1%. On the other side, the estimates of the financial-banking analysts show a possible increase up to over 3% along the period  of 2018 – 2019.

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