NBM uses all monetary policy instruments and will take all necessary measures to reduce inflation to 5% per year in the medium term.
Governor of the National Bank of Moldova (NBM) Octavian Armasu stated this in an interview to Moldovan media, while answering the question of what to expect from the monetary policy of NBM by the end of 2022. He noted that in the economic context of Moldova, this level creates optimal conditions for economic growth and development and the well-being of citizens. "This is our main target, and all the instruments of the National Bank are used precisely to achieve this level of 5%. Considering the evolution of the market, we will also adjust the instruments of monetary policy to the further development of the economy," the head of the National Bank said. According to him, at the moment NBM restrictive monetary policy creates conditions that encourage savings to the detriment of direct consumption. "It is obvious that high inflation slows economic growth and undermines the purchasing power of citizens. With a restrictive monetary policy, the government needs an expansionary fiscal policy with a strong social component to support the most vulnerable," said the NBM Governor. // 07.06.2022 - InfoMarket
