The base rate remains at the level of 5% per annum and the rates for lending and overnight deposit facilities remain at 7% and, respectively, 3%. The decision was adopted on Thursday by the Executive Committee of the National Bank of Moldova, reports IPN.
According to the BNM, this decision reflects the continuity of the current monetary strategy, with the main goal being to anchor inflation around the medium-term target of 5%, a level considered optimal for sustainable economic development.
The Committee has also decided to reduce the mandatory reserve ratio, both for funds raised in Moldovan lei (from 20% to 18%), and for those in freely convertible currency (from 29% to 26%). BNM specifies that, through this measure, it aims to encourage access to financing. Furthermore, it is anticipated that the reduction of costs for banks will be reflected, over time, in the decrease of interest rates on loans, thus stimulating consumption and investment.
The evolution of economic indicators in the second half of 2025 indicates a robust recovery, with the Gross Domestic Product registering a growth of 5.2% in the third quarter, supported by the dynamization of domestic demand and the performance of the agricultural and construction sectors.
“Although the annual inflation was 6.84% in December 2025 – slightly above the variation range due to the adjustment of electricity tariffs – current forecasts suggest that it will return within the target limits starting from the first quarter of 2026”, states the National Bank.
