OREANDA-NEWS. February 28, 2012. The Administrative Board of the National Bank has adopted this resolution after assessing macro-economic situation in the state, external economic environment, trends and forecasts of macro-economic indicators for the medium-term prospect, including the medium-term risk weighted inflation rate.

NBM also reduced the rate on overnight credits by 2 p.p., from 9,5% to 7,5%, with the overnight deposit rate being reduced from 3,5% to1,5%. At the same time, the norm of compulsorily reserves on funds attracted by banks in MDL and forex stayed unchanged at 14% of the calculation base.

The last month NBM reduced the basis rate of refinancing by 2 p.p. from 8,5% to 6,5%. In total, NBM reduces the basis rate for the forth month in row. At the end of November it was reduced by 0,5 p.p. from 10% to 9,5% p.a. At the end of December it declined by 1 p.p. from 9,5% to 8,5%, being reduced by 2 p.p. from 8,5% to 6,5% at the end of January.

The resolution of the Administrative Board of the National Bank is coming into effect after its publication in the Book of Official Documents to take place next week. The next sitting of the Administrative Board on mionetary policy is to be held on March, 29, 2012.