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Moldova's c-bank holds key rate at 6.5%

Moldova's c-bank holds key rate at 6.5%

CHISINAU (Moldova), March 15 (SeeNews) - Moldova's central bank has decided to maintain its key rate at 6.5%, striving to keep inflation close to the target level, it said.

The decision was adopted taking into account recent macroeconomic developments, the latest inflation report as well as the external and domestic economic environment, the central bank, BNM, said in a statement late on Thursday.

BNM also decided to maintain the interest rates on overnight loans at 9.5% per year and on overnight deposits at 3.5% per year.

The reserves ratio on deposits in local and non-convertible currency was kept unchanged at 42.5% and the required reserves ratio deposits in freely convertible currency at 14.0% of the base.

Moldova posted annual consumer price inflation of 2.4% in February, up from 2.2% in the previous month.

BNM lowered its 2019 inflation projection by 0.5 percentage points to 4.9% in February. It targets inflation of 5.0% plus or minus 1.5 pp.

The central bank last revised its key monetary policy rate in December, lowering it by 0.5%, to 6.5%.

(1 euro= 19.3344 Moldovan lei)