The Executive Board of the National Bank of Moldova (NBM) decided to maintain the base rate applied to the main short-term monetary policy operations at 4.75%. Interest rates on overnight loans and deposits were maintained at 6.75% and, respectively, 2.75% annually, IPN reports.

“The NBM’s decision aims to maintain the monetary conditions for further stimulating the aggregate demand, including by encouraging consumption, balancing the national economy and anchoring inflation expectations,” the central bank noted in a press release.

The NBM also said that is closely follows the inflation process and assesses the associated risks and uncertainties and the future decisions by the Executive Committee will depend on the renewed inflation perspectives.

According to the National Bank, the new macroeconomic information mainly confirms the validity of the last forecast. This way, annual inflation declined to the inflation target, to 5.5% in November 2023, being slightly lower than it was expected due primarily to the regulated prices and food prices.