OREANDA-NEWS. August 10, 2015. Pursuant to Art.17, 26 item a) of the Law on the National Bank of Moldova no.548-XIII of July 21, 1995 (Official Monitor of the Republic of Moldova, 1995, no.56-57, Art.624), with further amendments and completions and provisions of the Monetary Policy Strategy of the National Bank of Moldova for medium term (approved by the Decision of the Council of Administration of the National Bank of Moldova no. 303 of December 27, 2012), taking into account the Inflation Report no. 3, 2015, the Council of Administration of the National Bank of Moldova

DECIDES:

1. To increase the base rate applied on main short-term monetary policy operations by 2.0 percentage point, from the level of 15.5 to 17.5 percent annually.

2. To increase the interest rates:
a) on overnight loans by 2.0 percentage points from the level of 18.5 to 20.5 percent annually;
b) on overnight deposits by 2.0 percentage points from the level of 12.5 to 14.5 percent annually.

3. To increase the required reserves ratio from financial means attracted in MDL and non-convertible currencies by 6.0 percentage points and is set in the amount  of 32.0 percent of the base beginning with the maintenance period of  September 8, 2015 – October 7, 2015  of the required reserves in MDL.

4. To maintain the required reserves ratio from financial means attracted in freely convertible currency at the level of 14.0 percent of the base.

5. Paragraph 3 of this decision shall enter into force on September 8, 2015.

6. Since the entry into force of paragraph  3 of this decision, the paragraph 3 of the Decision of the Council of Administration of the National Bank of Moldova no. 165 of 25.06.2015 on the National Bank of Moldova interest rates and the required reserves ratio (Official Monitor of the Republic of Moldova, 2015, no. 166-176 art. 1180) shall be repealed.

7. This decision shall enter into force at the date of its adoption and shall be published in the Official Monitor of the Republic of Moldova.