March 20, 2020 / 2:15 PM / 19 days ago

Moldova central bank unexpectedly cuts its key rate

CHISINAU, March 20 (Reuters) - Moldova’s central bank cut its main interest rate for the second time in March to 3.25% from 4.50%, at an extraordinary meeting on Friday in order to support banking system amid markets volatility due to the coronavirus spread.

“The National Bank’s decision comes to further strengthen the level of liquidity in the banking sector in support of the economy and business environment amid the recent developments in the global and national economy,” the bank said in a statement. (Reporting by Natalia Zinets; Editing by Toby Chopra)

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