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Moldovan central bank keeps rates unchanged

Moldova's central bank decided to maintain its key policy rate at 6.5% as inflation remains above its target.

The executive board of Banca Nationala a Moldovei also kept the interest rate on overnight deposits at 3.5% and its interest rate on overnight credits at 9.5%.

The central bank said the country's annual inflation rate stood at 6.5% in January, down 0.8 percentage point from the previous month and hovering atop the variation range of plus or minus 1.5 percentage points from the 5% target. Higher food prices exerted the biggest upward pressure on annual inflation.