BNM keeps base rate at 3.60% and further lowers required reserve ratio

Chisinau, Dec. 5 /MOLDPRES/- Executive Board of the National Bank of Moldova (BNM) decided today to maintain the base rate at 3.60% annually. Also, in order to increase the predictability of the monetary policy and to keep inflation in the target corridor in the medium term, the National Bank decided to lower the required reserve ratio for two consecutive periods.

According to the BNM, the decision comes as part of the central bank's efforts to continue the implementation of monetary policy measures, given the time needed for the measures to take effect.

The decision to lower the reserve requirement norms in MDL and freely convertible foreign currency will reduce the borrowing costs, further supporting the lending process and having a beneficial influence on the national economy, the National Bank says.

The BNM will continue to carefully monitor the macroeconomic situation both domestically and externally, and depending on the evolution of inflation, risks and uncertainties, the necessary measures will be taken to maintain price stability - the fundamental objective of the National Bank of Moldova.

The monetary policy decision can be followed at the following link: https://bnm.md/ro/content/decizia-de-politica-monetara-05122024