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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.
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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.
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In July 2018, the annual inflation rate recorded 3.0%, decreasing by 0.2 pp. compared to the previous month. In accordance with the previous forecast, the inflation rate records, for the third consecutive month, a level situated below the lower limit of the inflation rate interval of ± 1.5 pp. from the 5.0% target.
The July data on the evolution of the annual inflation rate show that the inflation trajectory is close to the projected one and confirm the validity of the inflation forecast, published in the Inflation Report no. 3, 2018.
The highest contribution to the annual inflation rate (2.2 pp.) was generated by food prices. Core inflation and fuel prices contributed by 1.1 and 0.7 pp., respectively. Regulated prices generated a negative contribution of 1.0 pp.
At the same time, in July, the annual rate of core inflation recorded a level of 3.4%, 0.3 pp. lower than in the previous month.
The monthly inflation rate fell to a level of 1.2%, due to a decrease in prices for food by 1.9%, services – by 1.6% and non-food goods - by 0.1%.
In July, the monthly core inflation rate grew by 0.2%. The most significant price rises were recorded for "culture and recreation" and “cigarettes” components, resulting from a 14.6% increase in prices for tourism abroad and an increase by 3.2% in cigarettes prices. At the same time, prices for "cars and trailers" decreased by about 1.3% against the background of appreciation of the domestic currency against the single European currency and the US dollar.
The decrease of 1.9% in food prices, as compared to June 2018, was mainly determined by the fall in prices for "fresh vegetables" (-14.2%), "potatoes" (-13.0%) and "fresh fruits" (-6.9%). At the same time, food prices increased as a result of higher prices for "eggs" (1.8%) and "fish and canned fish" (0.8%). Excluding the seasonal factor, food prices increased by 0.8% over the level of the previous month.
In July 2018, fuel prices dropped by 0.3%, compared to the previous month. This development was mainly driven by the decrease in "fuels" prices by 0.6%, generating a negative contribution of 0.3 pp. Their decrease was caused by a decline in gasoline and diesel prices, in line with the trend set by international oil prices. Prices for "cylinder gas" increased by 0.2%, whereas prices for "coal" decreased by 0.2%. Prices for "firewood " and "liquid fuel" remained at the level of the previous month.
During the reporting month, prices for regulated services and products declined by 2.0%, compared to the previous month. This evolution was mainly determined by the cut in electricity tariff by 9.9%. At the same time, the decrease in prices for medicines (-0.4%) and air transport (-1.7%) also contributed to the decline of the monthly rate of regulated prices.
The annual growth rate of regulated products and services recorded -4.4%, decreasing 1.9 pp., compared to the previous month, and 11.8 pp., compared to July 2017.
The NBM will continue monitoring internal and international economic developments and will use the operational framework specific to the inflation targeting strategy in order to maintain medium-term price stability.
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