Moldova Interest Rate

The National Bank of Moldova lifted once again its benchmark interest rate to 6.5% from 5.6% during its meeting on February 5th, 2025, marking the second successive rate hike. Policymakers cited the need to address inflationary pressures stemming from recent tariff changes, manage inflation expectations, and keep the inflation target at 5.0%. This decision also reflects support from the European Commission to bolster energy resilience amid growing global economic uncertainties. Annual inflation, which has been on an upward trajectory since the second half of 2024, reached a 15-month high of 7% in December 2024. With the ongoing energy crisis, inflation is expected to rise further into double digits in 2025.