Monetary policy promotion strategy will cover three years

The National Bank of Moldova will adopt a new strategy for implementing the monetary policy for a period of three years, starting with 2010. This is a signal for the banks and the business sector that they should make long-term plans and contribute thus to the reliability of the system and to a sustainable economic development, Info-Prim Neo reports, quoting the central bank’s press service. A recent meeting of the bank’s Administration Board that was attended by presidents of banks centered on the resumption of the open market operations of the central bank on a permanent basis and on the necessity of the banks supporting the real sector of the economy with loans at lower rates of interest from the National Bank’s resources. The meeting participants discussed aspects of the given operations. The representatives of the banks were informed about the central bank’s plans to implement other instruments for promoting the monetary policy in the future.