NBM keeps base rate on main monetary policy operations at 2.65%

The base rate on the main short-term monetary policy operations remained at the level of 2.65% a year. The interest rate on overnight loans was maintained at 5.15% annually, while that on overnight deposits at 0.15% annually. The monetary policy decision was adopted by a unanimous vote by the Executive Board of the National Bank of Moldova on April 30, IPN reports.

The mandatory reserves attracted in Moldovan lei and in non-convertible currency, for the period between May 16, 2021 and June 15, 2021, were decreased by 2 percentage points to 26% of the calculation basis, while the mandatory reserves attracted in freely convertible currency was kept at 30% of the calculation basis.

The NBM said the decision, alongside the monetary policy decisions agreed earlier, was taken in order to alleviate and counteract the negative effects of the pandemic on the national economy and to strengthen the central bank’s position in supporting the economic recovery.

In the meeting, there was also approved Report on inflation No. 2, May 2021, which is to be published on May
7, 2021.

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