The National Bank of Moldova slashed its benchmark interest rate to 10% during its May 2023 meeting from 14% in April and after a 300-bps cut in March as inflation waned further. Consumer prices in the country rose 18.1 percent yoy in April 2023, the least since January 2022 and less than the NBM's estimates due to eased pressures in all product groups. Meanwhile, the interest rates on overnight loans and deposits were lowered to 12% and 8%, respectively. The central bank projected consumer inflation to drop to 13.7% this year after peaking in 2022 and to return to the variation range of ± 1.5 percentage points from the medium-term target of 5.0 percent in 2024 on weaker domestic demand, the fall in the electricity tariff, the high base effect, the slowed food cost growth, and hopes for a positive agricultural year. The body will continue to monitor developments of the war in Ukraine, trade with Turkey, and global economic trends to react accordingly with its decisions. source: National Bank of Moldova

Interest Rate in Moldova averaged 10.25 percent from 2001 until 2023, reaching an all time high of 21.50 percent in August of 2022 and a record low of 2.65 percent in November of 2020. This page provides the latest reported value for - Moldova Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Moldova Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Interest Rate in Moldova is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Moldova Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-07 01:40 PM 17% 20% 20.0%
2023-03-20 03:20 PM 14% 17% 15.5%
2023-05-11 12:40 PM 10% 14% 11.0%
2023-06-20 11:00 AM 10%
2023-08-09 11:00 AM
2023-09-19 11:00 AM


Related Last Previous Unit Reference
Interest Rate 10.00 14.00 percent May 2023
Money Supply M0 33829.18 33014.45 MDL Million Apr 2023
Money Supply M3 132591.17 130086.02 MDL Million Apr 2023
Deposit Interest Rate 8.00 8.00 percent May 2023
Foreign Exchange Reserves 4848973.87 4727643.50 USD Thousand May 2023
Cash Reserve Ratio 34.00 34.00 percent May 2023
Lending Rate 12.00 16.00 percent May 2023
Money Supply M2 99128.77 96409.28 MDL Million Apr 2023
Money Supply M1 68847.98 66627.55 MDL Million Apr 2023

Moldova Interest Rate
In Moldova, interest rate decisions are taken by the National Bank of Moldova. The official interest rate is the base rate.
Actual Previous Highest Lowest Dates Unit Frequency
10.00 14.00 21.50 2.65 2001 - 2023 percent Daily

News Stream
Moldova Delivers Another 300 Bps Cut
The National Bank of Moldova slashed its benchmark interest rate to 10% during its May 2023 meeting from 14% in April and after a 300-bps cut in March as inflation waned further. Consumer prices in the country rose 18.1 percent yoy in April 2023, the least since January 2022 and less than the NBM's estimates due to eased pressures in all product groups. Meanwhile, the interest rates on overnight loans and deposits were lowered to 12% and 8%, respectively. The central bank projected consumer inflation to drop to 13.7% this year after peaking in 2022 and to return to the variation range of ± 1.5 percentage points from the medium-term target of 5.0 percent in 2024 on weaker domestic demand, the fall in the electricity tariff, the high base effect, the slowed food cost growth, and hopes for a positive agricultural year. The body will continue to monitor developments of the war in Ukraine, trade with Turkey, and global economic trends to react accordingly with its decisions.
2023-05-11
Moldova Cuts Interest Rates to 14%
The National Bank of Moldova slashed its benchmark interest rate to 14% during its March 2023 meeting from 17%, following a 300 bps cut in January as inflation continued to ease. Consumer prices in the country rose 25.9 percent from a year earlier in February 2023, the least since March 2022, due to slower growth in food and non-food products. Meanwhile, the interest rates on overnight loans and overnight deposits lowered to 16% and 12%, respectively. The central bank projected consumer price inflation to drop to 13.7% this year after peaking in 2022 and to return to the variation range of ± 1.5 percentage points from the medium-term target of 5.0 percent in the second quarter of 2024. The body will continue to monitor developments of the Russian war in Ukraine and analyze the global demand for signs of recession to react accordingly with their decisions.
2023-03-20
Moldova Cuts Interest Rates to 17%
The National Bank of Moldova slashed its benchmark interest rate to 17% during its February 2023 meeting from 20%, following a 150 bps cut in December as inflation continued to ease. Consumer prices in the country rose 30.2 percent from a year earlier in December 2022, the least since May, due to slower growth in all categories: food, non-food, and services. Meanwhile, the interest rates on overnight loans and overnight deposits lowered to 19% and 15%, respectively. The central bank projected consumer price inflation to drop to 13.7% this year after peaking in 2022 and to return to the variation range of ± 1.5 percentage points from the medium-term target of 5.0 percent in the second quarter of 2024. Last year, Moldova's economy was hit by the ramifications of Russia's invasion of Ukraine, such as elevated food and energy costs.
2023-02-07