• Schedule of reception of citizens by the Executive Board of the National Bank of Moldova.
    The registration of applicants for an audience is carried out based on a written request on the subject addressed.


  • Anca Dragu, Governor

    1st Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 606.


  • Vladimir Munteanu, First Deputy Governor

    2nd Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 606.


  • Tatiana Ivanicichina, Deputy Governor

    3rd Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 607.


  • Constantin Șchendra, Deputy Governor

    4th Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 607.

Please, note the requirements for receiving and examining petitions and requests for access to information of public interest addressed to the National Bank of Moldova!

Details

 

Main navigation BNM

Expand Hide
04.09.2018

Monetary policy decision, 4 September 2018



 

Within the meeting of 4 September 2018, the Executive Board of the National Bank of Moldova adopted the following decision:

1. to maintain the base rate applied to main short-term monetary policy operations at the current level of 6.5 percent annually.

2. to maintain interest rates:
  - on overnight loans at the current level of 9.5 percent annually;
  - on overnight deposits at the current level of 3.5 percent annually.

3. to increase the required reserves ratio attracted in Moldovan lei and in non-convertible currency starting with the period of application of the required reserves in MDL: 16 September 2018 - 15 October 2018 by 2.5 percentage points and is established at 42.5 percent of the calculation base.

4. to maintain the required reserves ratio of attracted funds in freely convertible currency at the current level of 14.0 percent of the calculation base. 

The decision was taken following the deliberations of the Executive Board on macroeconomic developments and risk assessment of the medium-term inflation forecast deviation.

The risks of forecast deviation may derive from food prices, which in July 2018 marked a higher dynamic than anticipated. At the same time, prices for regulated goods and services, the core inflation and fuel prices are in line with the anticipated values within the forecasting round published in August.

In order to sterilize excess liquidity, the Executive Board of the National Bank of Moldova decided to increase the required reserves ratio attracted in MDL and in non-convertible currency by 2.5 percentage points up to 42.5 percent of the calculation base for the period of application of the required reserves in MDL: 16 September – 15 October 2018. At the same time, the required reserves ratio of attracted funds in freely convertible currency is maintained at the current level of 14.0 percent of the calculation base.

The next meeting of the NBM’s Executive Board on monetary policy will take place on 30 October 2018, according to the published schedule.

 

Evolution of the NBM interest rates

Subscribe to Newsletter
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
See all: