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. source: National Bank of Moldova

The benchmark interest rate in Moldova was last recorded at 5 percent. Interest Rate in Moldova averaged 9.73 percent from 2001 until 2025, 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
2025-09-18 07:50 AM Interest Rate Decision 6% 6.25% 6.25%
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 12:00 PM Interest Rate Decision 5% 4.75%
2026-03-19 12:00 PM Interest Rate Decision 4.5%
2026-05-07 11:00 AM Interest Rate Decision 4.5%


Related Last Previous Unit Reference
Cash Reserve Ratio 20.00 20.00 percent Dec 2025
Deposit Interest Rate 3.00 4.00 percent Dec 2025
Foreign Exchange Reserves 5104266.45 5080868.28 USD Thousand Dec 2025
Interest Rate 5.00 6.00 percent Dec 2025
Lending Rate 7.00 8.00 percent Dec 2025
Money Supply M0 50135.83 48782.16 MDL Million Dec 2025
Money Supply M1 106189.17 101144.08 MDL Million Dec 2025
Money Supply M2 144602.02 138331.89 MDL Million Dec 2025
Money Supply M3 190477.61 183545.60 MDL Million Dec 2025


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 6.00 21.50 2.65 2001 - 2025 percent Daily

News Stream
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
Moldova Cuts Benchmark Rate to 6%
The National Bank of Moldova cut its benchmark interest rate by 25 basis points to 6.0% on September 18, continuing its monetary easing stance. The move aims to anchor inflation expectations and guide annual inflation back toward the 5.0% ±1.5% target. Inflation in August stood at 7.3%, down from 7.9% in July. Economic activity showed early signs of recovery in Q2 2025, with industrial production up 3.2% and retail and wholesale trade rising 10.1% and 6.9%, respectively. However, overall growth remains negative as exports fell 7.7% while imports surged 23.1%. The external environment remains uncertain, with persistent trade and geopolitical risks and volatile commodity and food markets. The National Bank of Moldova is supporting aggregate demand, consumption, and investment to stabilize the economy and the current account. Future policy decisions will depend on evolving domestic and international macroeconomic conditions.
2025-09-18