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.