RESOLUTION OF ADMINISTRATIVE BOARD OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of March 25, 2010 No. 55

About the level of interest rates of National Bank of Moldova

Based on article 26 of the Law on National Bank of Moldova No. 548-XIII of July 21, 1995 (Monitorul Oficial al Republicii Moldova, 1995, No. 56-57, of the Art. 624), with subsequent changes and according to the Strategy of monetary management of National Bank of Moldova of 2010-2012 (it is approved by the Resolution of Administrative council of National Bank of Moldova No. 292, of December 29, 2009), considering evolution of cash and macroeconomic indicators, including the rate of inflation, Administrative board of National Bank of Moldova DECIDES:

1. Increase the basic rate applied on the main short-term transactions of monetary management by 1.0 percent point, with % 6,0 to % per annum 7,0.

2. Increase the following interest rates:

 on overnight credits of 1.0 percentage point, with % 9,0 to % per annum 10,0;

 on deposits of overnight on 1.0 percent point, with % 3,0 to % per annum 4,0.

3. Increase basic rate on long-term loans (over 5 years) by 1.0 percent point, with % 6,0 to % per annum 7,0.

4. The interest rates established in Items 1, 2 and 3, are applied from the date of entry into force of this resolution about day of entry into force of new rates.

5. Support the standard rate of required reserves on the raised funds in Moldovan lei and inconvertible currencies, also as well as the standard rate of required reserves on the raised funds in freely convertible currencies at the % per annum 8,0 level.

6. The next meeting of the NBM Administrative Board concerning monetary management will take place on April 29, 2010 according to the approved schedule.

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