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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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The Executive Board of the National Bank of Moldova (NBM) decided unanimously to maintain a 7.5% annual core rate applied to the main operations of monetary policy on short term. The annual values of other monetary policy instruments will remain unchanged: 10.5% interest rate of overnight credits and 4.5% interest rate of overnight deposits.
In addition, the Board decided to preserve the required reserves at their current rates of 42.5%, and 17.0%, respectively, from the calculation basis.
The decision was adopted following the assessment of the most recent internal and external macroeconomic data.
Therefore, the forecast on inflation will remain valid, while the inflationary pressures will continue by the end of this year. This trend is caused, in particular, by the aggregate demand, increase of unit labour costs and the seasonal effect. The situation will reverse in the first quarter of 2020, when inflation will start diminishing.
In September, the annual rate of inflation amounted to 6.3%, which shows an evolution according to the forecast.
According to the available data, a sharp economic growth was registered in the first half of the year, which will be preserved by the end of the year but in modest terms. In the second quarter of 2019, the investments of the population increased in relation to consumption, due to the rise of incomes.
In addition, the volume of new credits granted in national currency during the previous quarter constituted MDL 5.8 billion, which shows a rise of 26.1%. It is worth mentioning that individuals and legal entities hold similar shares of 50% of the total volume of credits granted.
At the meeting held today, the Executive Board also approved the Inflation Report no. 4, 2019, which shall be published next week.
The NBM will continue to monitor and forecast the internal and external macroeconomic evolutions, risks and uncertainties associated with the evolution of inflation, in order to assure a medium term stability of prices.
Next meeting on monetary policy will take place on 11 December 2019.
1 Grigore Vieru Avenue,
MD-2005, Chisinau, Republic of Moldova.
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