National Bank increases by 1p.p. base rate applied to commercial banks’ refinancing through SS two-month acquisition Repos

The Council of Administration of the National Bank of Moldova, at its meeting of November 16, 2006, decided to raise by 1 p.p. the base rate of the National Bank of Moldova, applied on commercial banks’ refinancing through SS two-month acquisition Repos conducted within NBM open market operations. The base rate was settled to 14.0% per year. Simultaneously, other interest rates in rates corridor have been set as follows: • Overnight credits – 18.0% per year; • Lombard Facility – 16.0% per year; • Overnight deposits of commercial banks with the National Bank - 2.0% per year. The Council of Administration decided to maintain the interest rate on long-term credits (more than 5 years) at the level of 10.5% per year. The decision of the Council of Administration on interest rates shall enter into force on the date of its publication in the Official Monitor of the Republic of Moldova.