Moldova C. Bank Cuts Interest Rate
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The National Bank of Moldova cut its benchmark interest rate by 125 basis points to 4.75% in November, extending its monetary policy relaxation from the end of the last year, fresh data by Trading Economics showed.
The central bank aim to stimulate lending and support domestic aggregate demand, while ensuring the inflation's return to the 5% target range in the medium term.
The loans and deposit rates were also reduced to 6.75% and 2.75%, respectively.
The annual inflation rate in Moldova decelerated to 8.6% in September 2023, from 9.7% in the previous month, marking the lowest level in two years. Still, policymakers noted that price pressures have not receded completely due to declining economic activity in the euro area, rising energy costs, and geopolitical uncertainties.
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