The National Bank of Moldova announced on October 5, 2021, about the increase of the base rate applied to the main short-term monetary policy operations up to 5.5 percentage points.
At the same time, the rate corridor was reduced by 0.5 pp from 2.5% to 2.0 percent. Thus, the rate on overnight deposits will be 3.5 percent, and overnight loans 7.5 percent.
Simultaneous reduction of the rate corridor with the base rate increase is calibrated to motivate consumers’ preferences for saving from immediate consumption in the context of the pronounced revival of economic activity in the first 9 months of this year.
Recommendation: inform finance department about new rates