RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of September 9, 2020 No. 202

About the level of interest rates of National Bank of Moldova and regulation of required reserves

Based on Article 27 parts (1) Item a) Law No. 548/1995 on National Bank of Moldova (переопубликован: Monitorul Oficial al Republicii Moldova, 2015, Art. No. 297-300, 544, with subsequent changes) and according to the Strategy of monetary management of National Bank of Moldova for the medium-term period approved by the Resolution of Administrative board of National Bank of Moldova No. 303 of December 27 2012, considering the Report of risk assessment of variation from the forecast of inflation, September, 2020, the Executive committee of National Bank of Moldova DECIDES:

1. Reduce the basic rate applied on the main short-term transactions of monetary management by percent point 0,25, with % 3,0 to % per annum 2,75.

2. Lower the following interest rates:

a) on the credits overnight on 0, percent point, with % 5,5 to % per annum 5,25;

b) on deposits overnight on percent point 0,25, with % 0,5 to % per annum 0,25.

3. Increase regulation of required reserves from the raised funds in freely convertible currency:

a) on percent point 1,5, since the period of application of required reserves from the raised funds in freely convertible currency on October 16, 2020 - on November 15, 2020 and to establish in the amount of 28,5 of % of calculation base;

b) on percent point 1,5, since the period of application of required reserves from the raised funds in freely convertible currency on November 16, 2020 - on December 15, 2020 and to establish in the amount of 30,0 of % of calculation base.

4. From the date of entry into force of Item 3 of this resolution to declare invalid item 4 of the Resolution of Executive committee of National Bank of Moldova No. 183 of 06.08.2020 about the level of interest rates of National Bank of Moldova and regulation of required reserves (Monitorul Oficial al Republicii Moldova, 2020, No. 205-211 the Art. 726)

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