OREANDA-NEWS. May 28, 2010. According to the decision of the Governing Body of the Bank, the rates were also preserved on loans overnight- 10%, deposits overnight - 4% and long-term loans (over 5 years) – 7%. The norms of mandatory reserves from the funds in MDL and foreign currency, attracted by the banks, also remained the same-8%.

Such a decision was made by the NBM’ s Governing Body taking into account the macroeconomic situation in the country, trends and macroeconomic indicators, including medium-term inflation forecasts. It is planned that preservation of the base rate at the same level will contribute to the decrease in inflationary pressures and will reduce risk of the secondary effects from the increase in prices and tariffs not affecting real GDP growth.

As a consequence, the preservation of the base interest rate and complete sterilization of the surplus liquidity will provide the development of adequate conditions for maintaining balance between the price stability and the national economy restoration.

The NBM has announced that it will continue constant monitoring of macroeconomic indicators and situation at the monetary, currency and credit markets and will promptly react to all internal and external challenges to achieve goals of the Monetary Policy Strategy for the medium term.