ADVERTISEMENT

Moldova c. bank hikes key rate 

Banking

Image by Shutterstock.com

The National Bank of Moldova raised its benchmark interest rate by 100 basis points to 4.65% on Friday, the second consecutive hike in borrowing costs since July 2019, according to a report by Trading Economics. 

Also, the overnight credit rate and the overnight deposit rate were raised by 1 percentage point, to 7.15% and 2.15%, respectively. Meantime, the level of reserve requirements for banks holding reserves in U.S. dollars and Moldovan lei remained unchanged.

Policymakers said the decision aims to alleviate inflationary pressures from both aggregate supply and demand, as well as the risks and uncertainties caused by the evolution of the pandemic situation. Moldova's annual inflation rate rose for the sixth straight month to 3.5% in July, its highest level since August last year.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.