MOLDOVA CUMHURİYETİ ULUSAL BANKASI`NIN ULUSAL EKONOMİNİN GELİŞMESİ AMACINA YÖNELİK PARA POLİTİKASINI İLERLETME YÖNERGELERİ

Abstract

The monetary policy of the central bank influences the amount of currency in circulation, the level of interest rates, foreign exchange rates and other economic-monetary indicators in order to achieve the general objectives of the economic policy, such as ensuring price stability by maintaining the inflation at an optimal level, the growth and the economic development of the country by stimulating economic activity, employment, etc.
 The uncertain nature of the evolution of the world economy and the high degree of openness of the economy of the Republic of Moldova denotes a multitude of major risks that endanger the assurance and maintenance of the price stability. In the medium term, these remain to be large fluctuations in prices for food and energy resources, fluctuations in exchange rates of major currencies and of the capital flows. To cope with these situations, an important challenge for the monetary policy promoted by the NBM is to maintain inflationary expectations well anchored within the inflation target range.