Three-month interbank offered rate down slightly to 3.06 pct p.a.

The 3-month Romanian Interbank Offered Rate ROBOR, against which the cost of variable-interest rate loans denominated in lei is calculated, dropped slightly to 3.06 percent per annum, from 3.07 percent per annum, quotation it stood at for six days, according to data released by the National Bank of Romania (BNR). According to BNR data at the beginning of 2019, the 3M ROBOR stood at 2.99 percent, and in the similar period of last year it stood at 3.25 pct per annum. The 6M rate used to calculate interest on mortgage loans dropped to 3.15 percent per annum from 3.16 percent, while the 9M ROBOR, representing the interest rate paid on loans denominated in lei drawn by commercial banks from other commercial banks reached 3.20 percent per annum from 3.22 pct per annum on Tuesday. The 12M ROBOR rate remained still at 3.26 pct per annum, the value it gained on August 23. The Consumer Credit Reference Index (IRCC), regulated by Government Emergency Ordinance 19/2019, for the second trimester, is 2.63 pct per annum, being calculated as the arithmetic mean of the daily interest rates on interbank transactions in the previous trimester. The IRCC for the first trimester of 2019 was 2.36 pct.AGERPRES(RO - editor: Nicoleta Gherasi; EN - author: Razvan-Adrian Pandea, editor: Maria Voican)