THE REASONABLE CHARACTER OF CONVENTIONAL INTEREST, IN THE REGULATORY OF CIVIL LAW OF THE REPUBLIC OF MOLDOVA (English version)

Viewed as signals that play an important role in any market economy, interest rates channel the flow of funds from savers to borrowers. To ensure de security of this flow the Moldavian law states that interest rates need to be in a certain reasonable relationship with the refinancing rate of the National Bank of Moldova. Then again, the legal norm does not contain the definition or any numeral references regarding the difference between these two variables, a difference which is considered to be a reasonable one. Yet these are not the only questions that where fulfilled by this research, thus our scientific approach covers even the economical nature of interest rates, through this we have intended to entirely explain their juridical form.