Interest Rates Update from the National Bank of Romania
Yesterday, the National Bank of Romania (BNR) announced that the average level of the overnight deposit interest rate (ROBOR) has decreased to 5.78% from 6% in the previous session. The interest rate for one-day deposits (ROBID) has also dropped to 5.49% from 5.71%. The 3-month ROBOR index has decreased to 5.81% from 6%, while the 6-month ROBOR has fallen to 5.87% from 6.04%.
Introduction of the New Consumer Credit Reference Index (IRCC)
BNR has recently introduced a new quarterly reference index for consumer loans, known as the Consumer Credit Reference Index (IRCC), which has replaced ROBOR in the calculation of interest rates for most loans in Romanian currency. The value of this index for the first quarter of 2024 is 5.86%.
