Finances

​NBM KEEPS MONETARY POLICY INSTRUMENT RATES UNCHANGED

08 may, 2019

The main monetary policy instrument rates in Moldova will remain at the current level at least until June 19. A corresponding decision was adopted by the National Bank of Moldova Executive Committee on Tuesday.

The base rate on short term transactions was left at the level of 6.5%, on overnight deposits - at 3.5%, overnight credits - 9.5%. The required reserve ratio from funds attracted in the national currency and in nonconvertible currencies was also left at 42.5%, while in convertible - at 14%.

The executive committee's decision is directed to creation of monetary conditions able to preserve the inflation within В± 1.5% from the target inflation rate of 5% in mid-term perspective.

At the same sitting, the committee approved the second report on inflation for 2019, which will be published on May 16.

According to the NBM, in March the inflation evolved as expected and accounted for 2.8% in annual terms. The economic growth in the 4Q2018 accounted for 3.9%, which is 0.5% more than in the third quarter. Besides, in the first three months the licensed banks provided new credits worth 32.4% more than a year before. With all this, the interest rate on credits, issued in national currency, fell 1.25%.

The next Executive Committee meeting on monetary policy will take place on June 19.

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