OREANDA-NEWS. April 30, 2013. According to the NBM, overnight loans also decreased 1 p.p. from 7.5% to 6.5%, overnight deposits – from 1.5% to 0.5%, and long-term loans (more than 5 years) – from 5% to 4%. By the same time, legal reserve requirement on attracted funds in MDL and forex didn’t change – 14% of calculation base.

The NBM stated that the decisions made are aimed to provide adequate monetary conditions in order to stimulate crediting process, activate economic activity, control inflation expectations, and attain inflation rate within target of 5% for a long-term period. The decisions by administrative board of NBM will come to operation starting from April, 29.

The next meeting on monetary policy of NBM will take place on May, 30, 2013. Last time the National Bank lowered the basing refinancing rate from 6.5% to 4.5% by the end of February in 2012. The following months the rate remained at the same level.