The National Bank of Moldova retained the base rate for the main operations of monetary policy at 3.6 percent.
The decision was made today by the Executive Committee of the National Bank of Moldova (NBM) unanimously.
At the same time, interest rates on loans and deposits of overnight, repo operations, as well as the norms of mandatory reserves, were preserved, reports Moldipres.
So, the percentage rates on loans of the overnight are saved at the level of 5.6 percent per annum, on the deposits of the overnight – at the level of 1.6 percent per annum, and according to the operations of the repo – 3.85 percent per annum.
NBM decided to maintain the norm of mandatory reserves from funds attracted in Moldavian lei and non -enactable currency, at the current level of 29 percent of the settlement base.
And the norm of mandatory reserves at the expense of funds raised in freely convertible currency remains at the current level of 39 percent of the estimated base.
In the NBM, they explained that the decision was made “in the context of the further spread of the effects of previous decisions on monetary policy – a consistent reduction in the base rate and reducing the reserve requirements”.
“At the same time, the reliability of the forecast of inflation set forth in the August report on inflation is mainly confirmed,” the NBM press release noted.
As believe in the NBM, the current assessment of real monetary conditions in the deposit, credit and foreign exchange markets indicates a favorable situation to maintain inflation in the range of ± 1.5 percentage points compared to the target indicator of 5 percent.
The previous decision on monetary policy was approved in August, when the base rate was saved at 3.6 percent.