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Popa (BNR): The drop in the monetary market indicator, ROBOR, a consequence of the improvement of the interbanking liquidity

The drop in the monetary market indicator, ROBOR, is, first, the consequence of the improvement of the interbanking liquidity, as well as the acknowledgement on the part of the market of the fact that the tensions of last year have been clearly reduced, stated Cristian Popa, member of the Board of the BNR.

‘The drop in the monetary policy indicator, ROBOR, is, first, a consequence of the improvement of the interbanking liquidity. Similarly,it is about the perception of the investors which was visibly improved over the last period. The recent evolutions are, an acknowledgement on the part of the market of the fact tat the tensions of last year have been clearly reduced. There were five days of drops in a row when ROBOR for three months had more reduced values, dropping from 2.03% to 1.79%. During the same period, ROBOR overnight, the rate at which the banks get loans from one another for a day, dropped from 1.63% to 1.14%’Popa explained.


‘It should be mentioned that, over the last period, the ROBOR level was close to the level of the loan facility, the interest rate at which BNR gives loans to commercial banks, of 2%. Coming back under this level, within the corridor of plus/minus 0,5 percentage points around the monetary policy interest rate shows that the market is working well’ Cristian Popa said.

We remind the fact the ROBOR for three months dropped by 11.82% last week, from 2.03% on 31st December 2020 to 1.79% on Friday, 8th January. The indicator dropped under 2% in August and September 2020, but under the level of 1,79% was situated on 11 th October 2017, namely 1.78%.

Similarly,on Friday,8th January 2020, the Robor for six months was at1.95% and ROBOR for twelve months had reached 1.99%.

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