The National Bank of Moldova has kept the base rate applied to the main short-term operations of monetary policy at the same level of 2.65% per annum.
The corresponding decision was made by the NBM Executive Committee at its meeting on Wednesday. As the President of the National Bank Octavian Armasu noted, the NBM also left unchanged the interest rates on overnight loans and deposits at the level of 5.15% and 0.15%, respectively. According to him, this decision of the NBM Executive Committee reflects the continuation of efforts to create monetary conditions to support the national economy and ensure inflation in the variable range of ± 1.5 percentage points from the target of 5%. The new decision of the NBM on monetary policy takes into account the risk of deviation from the latest forecast of inflation towards its possible further decline, and the actions of the NBM are aimed at supporting the domestic aggregate demand, the lending process and the economy as a whole. As Octavian Armasu noted, the NBM will continue to constantly monitor the macroeconomic situation created by the consequences of the pandemic, so that in due time, without jeopardizing its main goal of ensuring price stability, take new necessary measures to maintain sufficient liquidity in licensed banks and maintain a viable and stable banking sector systems. It should be noted that the last time the NBM changed the base rate applied to the main short-term operations of monetary policy was on November 6, when it was reduced by 0.1 percentage points - from 2.75% to 2.65%. At the same time, the National Bank also lowered by 0.1 percentage points interest rates on overnight loans and deposits: on loans - from 5.25% to 5.15%, and on deposits - from 0.25% to 0.15%. // 09.12.2020 — InfoMarket.
