The National Bank of Moldova left its benchmark interest rate unchanged at 5% on February 5, 2026, following a 100 bps reduction in December. The decision takes into account the delayed effects of prior monetary policies and aims to maintain medium-term inflation within ±1.5 percentage points of the 5% target, deemed optimal for sustainable economic growth. Inflation eased to a one-year low of 6.8% in December 2025, down from 7% in November, and is expected to return to the target range in the first quarter, remaining close to target thereafter. At the same time, the central bank reduced reserve requirements in both Moldovan lei and freely convertible currency to meet the banking system’s liquidity needs. This measure is expected to increase lending capacity to the real and public sectors, supporting aggregate demand by encouraging consumption and investment, and helping balance the national economy and the current account. source: National Bank of Moldova

The benchmark interest rate in Moldova was last recorded at 5 percent. Interest Rate in Moldova averaged 9.70 percent from 2001 until 2026, 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 February of 2026.

The benchmark interest rate in Moldova was last recorded at 5 percent. Interest Rate in Moldova is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Moldova Interest Rate is projected to trend around 5.25 percent in 2027 and 5.50 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-11-06 12:25 PM Interest Rate Decision 6% 6% 5.5%
2025-12-11 11:50 AM Interest Rate Decision 5% 6% 6%
2026-02-05 10:10 AM Interest Rate Decision 5% 5% 4.75%
2026-03-19 12:00 PM Interest Rate Decision 5% 4.75%
2026-05-07 11:00 AM Interest Rate Decision 4.5%
2026-06-18 11:00 AM Interest Rate Decision


Related Last Previous Unit Reference
Cash Reserve Ratio 20.00 20.00 percent Jan 2026
Deposit Interest Rate 3.00 3.00 percent Feb 2026
Foreign Exchange Reserves 5101367.35 5104266.45 USD Thousand Jan 2026
Interest Rate 5.00 5.00 percent Feb 2026
Lending Rate 7.00 7.00 percent Feb 2026
Money Supply M0 50040.28 50135.83 MDL Million Jan 2026
Money Supply M1 105219.70 106189.17 MDL Million Jan 2026
Money Supply M2 143775.37 144602.02 MDL Million Jan 2026
Money Supply M3 191371.94 190477.61 MDL Million Jan 2026


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
5.00 5.00 21.50 2.65 2001 - 2026 percent Daily

News Stream
Moldova Holds Key Policy Rate at 5%
The National Bank of Moldova left its benchmark interest rate unchanged at 5% on February 5, 2026, following a 100 bps reduction in December. The decision takes into account the delayed effects of prior monetary policies and aims to maintain medium-term inflation within ±1.5 percentage points of the 5% target, deemed optimal for sustainable economic growth. Inflation eased to a one-year low of 6.8% in December 2025, down from 7% in November, and is expected to return to the target range in the first quarter, remaining close to target thereafter. At the same time, the central bank reduced reserve requirements in both Moldovan lei and freely convertible currency to meet the banking system’s liquidity needs. This measure is expected to increase lending capacity to the real and public sectors, supporting aggregate demand by encouraging consumption and investment, and helping balance the national economy and the current account.
2026-02-05
Moldova Cuts Benchmark Rate to 5%
The National Bank of Moldova cut its benchmark interest rate by 100 basis points to 5.0% on December 11, 2025, marking its third rate cut this year and extending its accommodative monetary policy stance. Annual inflation in November remained at 6.99%, above the central target of 5.0% ±1.5%, driven primarily by regulated and food prices. Inflation is expected to return to the target range in December and remain at the lower bound through Q1 2026. The economy continues to show positive growth, providing a supportive environment for policy easing. Industrial production in September grew 9.0% year-on-year, while exports and imports increased 23.1% and 21.2%, respectively. The external environment remains broadly stable, though risks persist from energy, food, and geopolitical factors. Overall, risks to inflation are skewed toward disinflation, reinforcing the need to maintain an accommodative policy stance to achieve medium-term inflation objectives.
2025-12-11
Moldova Maintains Policy Rate at 6%
The National Bank of Moldova (NBM) kept its policy rate at 6% and lowered the reserve requirements for both Moldovan lei and foreign currencies. These measures aim to ease banking system liquidity, reduce lending costs, and support consumption and investment. Although annual inflation fell from 8.2% in June to 6.9% in September, it remained above the upper bound of the central bank’s 5% ±1.5 percentage point target. The NBM expected average inflation of 7.7% for 2025. It was projected to fall to 4.3% in 2026 and return to the target band in early 2026. Economic activity is rebounding, with GDP expanding 1.1% year-on-year in Q2, driven by domestic demand. Externally, the global economy remains resilient but is slowing. Geopolitical tensions, volatility in energy and commodity prices, and trade uncertainties are heightening risks for Moldova’s economic growth and inflation trajectory.
2025-11-06