Welcome to the official website of the National Bank of Moldova!
×
Do you have good eyesight and want to turn this tool off?
Do you have good eyesight and want to turn this tool off?
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.
Welcome to the official website of the National Bank of Moldova!
If you want to send a message (question or suggestion) on-line, go to section "Feedback" from the main menu at the top of the website.
You can choose one of the most popular reports from the list:
National Bank and the members of its decision-making bodies shall be independent in exercising the tasks conferred upon them by law, and shall neither seek nor take instructions from public authorities or from any other authority.
In order to ensure and maintain price stability over the medium term, the National Bank’s aim will be to keep inflation (measured by Consumer Price Index) at the level of 5.0 percent annually with a possible deviation of ± 1.5 percentage points, considered to be optimal for growth and development of Moldova's economy over the medium-term.
National Bank shall have the exclusive right to issue on the territory of the Republic of Moldova banknotes and coins as legal tender, as well as commemorative and jubilee banknotes and coins as legal tender and for numismatic purposes.
National Bank is exclusively responsible for the licencing, supervision and regulation of financial institutions activity.
National Bank of Moldova acts as banker and fiscal agent of the State and shall receive from state bodies economic and financial information and documents, which are necessary for carrying out its tasks.
National Bank of Moldova supervises the payment system of the Republic of Moldova and promotes a stable and efficient functioning of the automated inter-bank payment system
National Bank of Moldova is an autonomous public legal entity and is responsible to the Parliament.
National Bank shall inform the public on the monetary policy strategy on the results of the macroeconomic analysis, the evolution of the financial market and on statistics, including with regard to monetary supply, crediting, balance of payments and the state of the foreign exchange market.
National Bank of Moldova is responsable for the compilation of the balance of payments, international investment position and the statistics of the external debt of the Republic of Moldova.
The website www.bnm.md prioritizes data security and uses cookies to enhance the browsing experience and user comfort. Accepting the use of cookies increases the page's working speed and ensures the normal functioning of the information presentation modules. Refusing the use of cookies can slow down the site's loading and hinder smooth navigation between pages. More details in the Cookie Usage Policy.
1. to maintain the base rate applied to the 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 maintain the required reserves ratio attracted in MDL and non-convertible currency at the current level of 40.0 percent of the calculation base.
4. to maintain the required reserves ratio attracted in freely convertible currency at the current level of 14.0 percent of the calculation base.
The decision was made on the basis of most recent updated macroeconomic analyses and of adjustment of the medium-term inflation forecast.
Maintaining the base rate at the current level is justified by disinflationary pressures that will persist in the immediate period, but followed by a reversal of trends as of the fourth quarter of this year. Economic growth, although will be close to its potential, will continue to generate disinflationary pressures.
As expected, the annual inflation rate in April 2018 recorded 3.7% and will leave the target range in May this year.
The assessment and quantification of the risks associated with the inflation outlook, generally, indicates the validity of forecast published in May 2018.
However, new factors have been identified that have outlined after the forecasting round published in May 2018 and which will contribute to an insignificant deviation from the forecast of the short-term inflation trajectory. Thus, the postponement of electric energy tariff modification in the current quarter led to a higher trajectory of regulated prices in the second quarter of 2018. This will reverse in the second half of 2018 due to an anticipated more pronounced tariff decrease in the next quarter. At the same time, the risks associated with higher than expected increase of international oil prices may generate inflationary pressures in 2019, which will reflect in a possible more pronounced adjustment of tariffs in the next year.
The next meeting of the NBM’s Executive Board on monetary policy will take place on 26 July 2018, according to the published schedule.
1 Grigore Vieru Avenue,
MD-2005, Chisinau, Republic of Moldova.
© 2023 National Bank of Moldova
Terms of use