Monetary policy needs to be adapted to new realities in order to reduce inflationary pressure - Anca Dragu
The head of the National Bank of Moldova said this while speaking at the panel discussion "Central banks after the storm", held within the framework of the Central and Eastern European Forum (Invisso) held in Vienna. "In the current conditions of the global economy, characterized by volatility and uncertainty, new opportunities are opening up for innovation in the financial sector and the transition to sustainable financing. At the same time, ensuring the stability of the financial sector through the proper use of monetary policy instruments helps stimulate economic growth and strengthen the sustainability of the global economy," the NBM President said. In her speech, Anca Dragu emphasized the importance of adapting monetary policy to new realities in order to reduce inflationary pressure and noted that the monetary policy of the National Bank of Moldova contributed to limiting the inflation shock, the effects of the second round on core inflation and anchoring inflation expectations. "With a solid financial policy and a forward-looking approach, the National Bank of Moldova contributes to the approximation to European standards and the construction of a sustainable and resilient economy," Anca Dragu added. She also focused on the challenges in terms of financial stability, emphasizing the increased role of the NBM in supervising the financial system and preventing risks. According to her, in this context, the macroprudential mandate of the National Bank plays an important role in bringing Moldova in line with the highest international standards. Another strong point of the presentation was the NBM's commitment to sustainable finance. Anca Dragu emphasized that the National Bank of Moldova has created and approved the Sustainable Finance Roadmap - a strategic guiding document for financial sector entities, as well as other stakeholders in the development and promotion of sustainable finance in the country. "This initiative supports the national and global goals of transition to a sustainable economy," the NBM President noted. The panel explored lessons learned from recent economic and financial events, in particular the challenges faced by central banks in the region in managing the transition to a greener future and economic recovery, with a particular focus on the aftermath of the war in Ukraine. The forum, now in its 30th year, is an important platform for the exchange of ideas and international cooperation. The event, which took place from 14 to 15 January, brought together central bankers, leading economists, government officials and representatives of the private sector to discuss current economic challenges and outline future solutions.// 15.01.2025 – InfoMarket.
