RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of December 29, 2014 No. 295

About the level of interest rates of National Bank of Moldova and regulation of required reserves

Based on the item a) Art. 26 of the Law No. 548-XIII of July 21, 1995 on National Bank of Moldova (Monitorul Oficial al Republicii Moldova, 1995, Art. No. 56-57, 624), with subsequent changes and amendments, and according to the Strategy of monetary management of National Bank of Moldova for the medium-term period (it is approved by the Resolution of Administrative board of National Bank of Moldova No. 303 of December 27 2012), considering the Report on macroeconomic situation (December, 2014), the Administrative board of National Bank of Moldova DECIDES:

1. Increase the basic rate applied on the main short-term transactions of monetary management by 2.0 percent points from 4.5% to 6.5% per annum.

2. Increase the following interest rates:

a) on the credits overnight on 2.0 percent points from 7.5% to 9.5% per annum;

b) on deposits overnight on 2.0 percent points from 1.5% to 3.5% per annum.

3. Keep regulation of required reserves on the raised funds in Moldovan lei and inconvertible currencies, and also regulation of required reserves on the raised funds in freely convertible currencies at the level of 14.0% of calculation base.

4. This resolution becomes effective since December 30, 2014 and is published in Monitorul Oficial al Republicii Moldova.

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