Inflation remains around 5% target. Moment is opportune for lending to economy, NBM

The rate of inflation for the fourth consecutive month remains around the target of 5%, standing at 4.6% in January 2024. The decrease in the inflation rate was largely due to the modest demand on the local market, the appreciation of the exchange rate, but also to the decrease in electricity and natural gas charges, shows the first report on inflation this year, which was presented by the governor of the National Bank of Moldova Anca Dragu, IPN reports.

The governor noted that the monetary policy decisions produce effects. “This should boost lending, not only in the part for consumption, but also in the economy. I would like to continue the dialogue, on the one hand, with banks, on the other hand, with companies so that financial intermediation is much smoother and closer to a banking market of Western European countries,” stated Anca Dragu.

The annual inflation rate will have a stable trend in 2024 and will oscillate around the target of 5%. Thus, the lowest value of inflation will be recorded in the next quarter of this year, but also in the second and third quarters of next year. The highest value will be seen, according to forecasts, in the first quarter of next year.

Anca Dragu said that the National Bank will adjust its monetary policy so that inflation is maintained in the targeted corridor, but also encourages domestic demand.

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