National Bank of Moldova says basic rate at principal monetary policy operations maintained at 3.6 per cent.

Chisinau, 5 November /MOLDPRES/ - The basic rate applied for the principle short-term monetary policy operations is maintained at 3.6 per cent. The decision was taken unanimously by the executive committee of the National Bank of Moldova (BNM).   

At the same time, the interest rates on the overnight loans were maintained at 5.6 per cent annually, on overnight deposits – at 1.6 per cent annually and at the repo operations – 3.85 per cent annually.   

At the same time, to further support the process of crediting the private sector, BNM diminished the norm of compulsory reserves from the means attracted in Moldovan lei and in non-convertible currency – from 29 per cent to 27 per cent, as well as the norm of compulsory reserves from means attracted in convertible currency – from 39 per cent to 36 per cent.    

The Central Bank noted that, given that the seasonal demand of cash money and loans will exceed the forecast elaborated at the present forecast round, the institution will transfer additional volumes of liquidities on the monetary market through the further diminution of the norm of the compulsory reserves.    

At the same time, BNM informed that the current assessment of the real monetary conditions on the deposits market, the loans one and the currency one, showed a friendly situation for ensuring the maintenance of the inflation within the limits of the ±1.5 percentage points from the medium-term 5-per cent target.