OREANDA-NEWS. January 11, 2013. The schedule has been published in line with the practice of announcing a program and terms of open market operations, applied in NBM. The open market operations will be the principal instrument of the monetary policy of the bank used in the short-term prospect to balance the offer and the demand on the monetary market, the press release of NBM runs.

This will make possible for NBM to influence short-term interest rates on the interbank market. Just as before, in 2013 the schedule of monetary policy operations includes operations to place NBM certificates for 14 days and injections of liquidity into the banking system through REPO operation at a fixed rate for 28 days in the framework of which the National Bank will buy state treasury bonds from banks for them to buy them back at a specified time and term.

The National Bank states it will continue following principles of transparency and regularity in performing its operations at auctions and ensuring uninterrupted absorption and assignment of liquidity in order to facilitate liquidity management in banks.