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Moldovan central bank slashes base rate, citing slower inflation

Banca Naţională a Moldovei, Moldova's central bank, lowered its base rate by 2.0 percentage points, to 5.5%, saying it expects a decrease in inflation in the next year.

The bank also cut interest rates on overnight loans and deposits to 8.5% and 2.5%, respectively.

The central bank said the required reserve ratio in the country's currency and non-convertible currencies fell, while that in freely convertible currencies rose. "This will encourage the financial intermediation in national currency and, respectively, will discourage that in foreign currency," the bank said in a statement.

The central bank said it intends to maintain inflation at its target of 5.0%.