Moldova hikes key rate by 100 bp

Banking

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The National Bank of Moldova raised its benchmark interest rate by 100 basis points to 6.5% on Friday, citing inflationary pressures and uncertainty surrounding the coronavirus pandemic, economic stream line Trading Economics showed.

It was the third consecutive rate increase in order to keep inflation from exceeding the central bank's target of 5%.

Also, both overnight credit rate and the overnight deposit rate rose by 100 bps to 8.5% and 4.5% respectively. 

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