The National Bank of Moldova decided to keep the current prime rate for the main short-term monetary policy operations at 6%. Also, the rates for overnight loans and deposits remain unchanged – 8% and 4%, respectively. This decision was announced at the NBM in the context of actions when earlier stimulus steps began to yield results.
In parallel, it is noted that the restrictive monetary policy measures introduced during the last year have yielded results. Between October 2022 and June 2023, inflation fell by more than 21 points, from 34.6% to 13.2%.
The National Bank of Moldova assures that the reduction of inflation will continue and will approach the target level of 5%, which is considered optimal for the country’s development. This contributes to a positive economic outlook. Such a trend will also make possible a further reduction of interest rates on loans.
During the last meeting, where the third inflation report was approved, the present uncertainties and risks both at home and abroad, which continue to support the downward trend in inflation, were also discussed.
The next monetary policy decision of the NBM will be made in September.
