The base rate on the main short-term monetary policy operations remains at the level of 2.65% a year. The interest rate on overnight loans is maintained at 5.15% annually, while that on overnight deposits at 0.15% annually. The monetary policy decision was adopted by the Executive Board of the National Bank of Moldova on January 29, IPN reports.

The mandatory reserves attracted in Moldovan lei and in non-convertible currency were kept at 32% of the calculation basis, while the mandatory reserves attracted in freely convertible currency at 30% of the calculation basis.

The NBM said the decision was taken in order to maintain favorable monetary conditions for supporting domestic demand, lending and economic activity.

Following the monetary policy decisions taken earlier, lending has been buoyant for the second consecutive term. The volume of new loans provided in national currency rose by 10.2%.

In the meeting, there was also approved the report on inflation No. 1 for 2021, which is to be published on February 5, according to the agreed timetable.