The National Bank of Moldova (NBM) lowered the monetary policy interest rate today by 0.25 percentage points—from 6.5% to 6.25% annually—and ended its period of restrictive banking strategies.
This decision follows six months of holding the key rate steady, during which the NBM applied strict measures to control inflation. With annual inflation falling from 8.8% in March to 8.2% in June 2025, the NBM deemed it the right time to shift toward monetary easing.
The NBM aims to maintain inflation at 5.0%, within a margin of ±1.5 percentage points, and expects the downward trend in prices to continue through the end of 2025 and into the first half of 2026. The effects of this policy change will appear gradually, as interest rates on loans and deposits decline, potentially boosting domestic demand and private investment.
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Although global economic conditions remain uncertain due to tensions in the Middle East and fluctuating energy prices, Moldova’s economy shows signs of recovery based on internal data. Industrial output and trade increased. Exports dropped, and the country faced drought and higher tariffs at the end of 2024.
The NBM stated that it will continue to monitor both domestic and international economic developments and will base future monetary policy decisions on inflation trends and aggregate demand.