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    1st Wednesday of the month: 14.00-16.00.


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    2nd Wednesday of the month: 14.00-16.00.


  • Tatiana Ivanicichina, Deputy Governor

    3rd Wednesday of the month: 14.00-16.00.


  • Constantin Șchendra, Deputy Governor

    4th Wednesday of the month: 14.00-16.00.


  • Mihnea Constantinescu, Deputy Governor

    5th Wednesday of the month: 14.00-16.00.

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Calendar of data dissemination

05.06.2026

Annual inflation

The annual rate of inflationAnnual inflation rate represents the increase of consumer prices during a month this year compared with the same month last year. It is calculated as a ratio (expressed in percentage terms) between the price index during a month this year and price index during the same month last year, calculated on the same basis, minus 100. Statistical surveys on consumer prices are carried out by the National Bureau of Statistics (NBS). NBM sets its inflation target at the level of 5.0 percent annually, calculated based on the consumer price index (inflation rate for the last twelve months – each month of this year compared with the same month of last year), with a possible deviation of ±1.5 percentage points. (Source: Medium-term monetary policy strategy of the NBM. in April 2026 was 6,77 percent.


NBM Interest rates

07.05.2026 - Today
  • Base rate6.50%
  • Overnight deposits4.50%
  • Repo rate6.75%
  • Overnight credits8.50%

The base rate is approved as the reference rate for the main short-term monetary policy operations. The deposit and lending facility is part of a symmetrical corridor of ± 2 p.p. to the base rate.

The National Bank adopted this decision in response to the need to shape monetary policy to mitigate pressures on inflation amid the intensifying effects of the conflict in the Middle East, reflected in rising international prices for energy resources, food, and raw materials, and their impact on the regional economic forecast, as well as the monetary and fiscal policies promoted by major economies.

At the beginning of 2026, the annual inflation rate will decline, then remain relatively stable until the end of the year. At the beginning of next year it will record a further slight decline, subsequently stabilizing at the same level during the last three consecutive quarters of the forecast period.

New deposits attracted in February 2026 amounted to MDL 25,517 million, with 68.4% placed by the businesses and individuals engaged in economic activities and 31.6% by individuals.

New loans granted in February 2026 amounted to MDL 6,722 million, of which 67.8% were contracted by businesses and individuals engaged in economic activities and 32.2% by individuals.

In February 2026 the monetary base amounted to MDL 80,406 million, which represents a decrease by 4.2% compared to January 2026.

In January 2026 the monetary base amounted to MDL 83,921 million, which represents a decrease by 3.6% compared to December 2025.

The decision is made taking into account previous monetary policy measures, including their transmission lags, and aims to ensure and maintain inflation within a range of ±1.5 percentage points around the 5.0 percent target over the medium term.

New loans granted in January 2026 amounted to MDL 5,254 million, of which 64.5% were contracted by businesses and individuals engaged in economic activities and 35.5% by individuals.

New deposits attracted in January 2026 amounted to MDL 24,746 million, with 68.2% placed by the businesses and individuals engaged in economic activities and 31.8% by individuals.

This decision is adopted in the context of the continued propagation of the effects of previous monetary policy decisions, taking into account the associated transmission lags, and aims to keep inflation within the medium-term range of ±1.5 percentage points around the target of 5.0%.

In December 2025 the monetary base amounted to MDL 87,029.7 million, which represents an increase by 6.8% compared to November 2025 and by 5.3% compared to the same period of the previous year.

In December 2025, new loans granted amounted to MDL 7,785.0 million, increasing by 12.3% as compared to the previous month.

New term deposits attracted in December 2025 totalled MDL 4,942.2 million, increasing by 38.6% as compared to November 2025.

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