{"id":442211,"date":"2016-06-13T11:12:25","date_gmt":"2016-06-13T11:12:25","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=442211"},"modified":"2016-10-10T20:09:08","modified_gmt":"2016-10-10T20:09:08","slug":"national-bank-moldova-decreases-base-rate-13-inflation-falls-97","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/national-bank-moldova-decreases-base-rate-13-inflation-falls-97\/","title":{"rendered":"National Bank of Moldova decreases the base rate to 13% as inflation falls to 9,7%"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

On May 26th, the National Bank of Moldova adopted a decision<\/a> by unanimous vote to adjust the short-term monetary policy. <\/p>\n

Therefore, the base rate on short-term monetary policy operations was decreased by 2% from 15% to 13%. The interest rates for overnight loans were decreased from 18% to 16%, while the rates for the deposits were decreased from 12% to 10%. <\/p>\n

The decision states that the required reserves ratio from financial means attracted in freely convertible currency would be maintained at the level of 14% of the base. Those attracted in MDL (Moldovan leu) and non-convertible currency would be set at the level of 35%. <\/p>\n

According to the National Bank, there is a downward trend of the annual inflation rate for the fourth consecutive month, mainly due to the decrease of the contributions from food prices and core inflation. Accordingly, the core inflation was 9,7 percent in April, 0,5% less than in March. <\/p>\n

“The unfavourable dynamic of macroeconomic indicators in the first quarter of 2016 shows the further contraction of economic activity in the reporting period and reveals the persistence of disinflationary pressures from the aggregate demand. In the first quarter of 2016, exports decreased by 18.5 percent compared to the same period of 2015 and imports by 8.9 percent. At the same time, the agriculture and industry recorded slight positive evolutions. Thus, the agricultural production recorded an increase of 4.0 percent and indutrial production increased in real terms by 1.1 percent”<\/em>, reads the press-release.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>On May 26th, the National Bank of Moldova adopted a decision by unanimous vote to adjust the short-term monetary policy. Therefore, the base rate on short-term monetary policy operations was decreased by 2% from 15% to 13%. The interest rates for overnight loans were decreased from 18% to 16%, while the rates for the deposits […]<\/p>\n","protected":false},"author":6,"featured_media":441786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,6],"tags":[],"class_list":["post-442211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-important-en"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

On May 26th, the National Bank of Moldova adopted a decision<\/a> by unanimous vote to adjust the short-term monetary policy. <\/p>\n

Therefore, the base rate on short-term monetary policy operations was decreased by 2% from 15% to 13%. The interest rates for overnight loans were decreased from 18% to 16%, while the rates for the deposits were decreased from 12% to 10%. <\/p>\n

The decision states that the required reserves ratio from financial means attracted in freely convertible currency would be maintained at the level of 14% of the base. Those attracted in MDL (Moldovan leu) and non-convertible currency would be set at the level of 35%. <\/p>\n

According to the National Bank, there is a downward trend of the annual inflation rate for the fourth consecutive month, mainly due to the decrease of the contributions from food prices and core inflation. Accordingly, the core inflation was 9,7 percent in April, 0,5% less than in March. <\/p>\n

“The unfavourable dynamic of macroeconomic indicators in the first quarter of 2016 shows the further contraction of economic activity in the reporting period and reveals the persistence of disinflationary pressures from the aggregate demand. In the first quarter of 2016, exports decreased by 18.5 percent compared to the same period of 2015 and imports by 8.9 percent. At the same time, the agriculture and industry recorded slight positive evolutions. Thus, the agricultural production recorded an increase of 4.0 percent and indutrial production increased in real terms by 1.1 percent”<\/em>, reads the press-release.<\/p>\n

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