Dorin Dragutanu: NBM targeting liquidity, but not its size
The National Bank of Moldova (NBM) intends to target the cost of the banks' liquidity by raising the basic rate, but not the liquidity size, NBM President Dorin Dragutanu said at a news conference on Monday.
He said that the NBM will not absorb the liquidity size and it will not change its maintenance standards for the commercial banks.
"At least in 2010 we are not going to administer the liquidity size", Dragutanu said and added that under such conditions everything will depend on the banks' ability to activate themselves in crediting the real sector.
He reminded of the increase of the basic rate, introduced by the National Bank of Moldova on January 28 and applied for all the main short-term operations of the monetary policy from 5% to 6%.
In his words, this is the adequate document of the balanced monetary policy, which is aimed at curbing inflation, lowering inflation expectations and returning the inflation into its limits, declared for the medium-term period.
Earlier Dragutanu said that the volume of the available liquidity in banking sector is sufficient both for the ordinary current activities and for the active resumption of crediting the national economy.
Infotag, Moldovan news agency
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