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

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

CHISINAU (Moldova), May 8 (SeeNews) - Moldova's central bank has decided to maintain its key rate at 6.5%, aiming to keep inflation close to the target level, it said.

The decision was adopted taking into account recent macroeconomic developments as well as trends in monetary, financial, lending and deposit market developments, the central bank, BNM, said in a statement late on Tuesday.

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 on deposits in freely convertible currency at 14.0% of the base.

Moldova's annual consumer price inflation accelerated to 2.8% in March, from 2.4% 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= 19.9355 Moldovan lei)