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.