• Calling days and hours of the governing body of the National Bank of Moldova for citizens.


  • Octavian Armașu, Governor of the National Bank of Moldova

    1st Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;


  • Vladimir Munteanu, First Deputy Governor of the National Bank of Moldova

    2nd Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;

  • Ion Sturzu, Deputy Governor of the National Bank of Moldova

    4th Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 607.

Please, note the requirements for receiving and examining petitions to the National Bank of Moldova !

Details

 

Main navigation BNM

Calendar of data dissemination

25.11.2020

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 October 2020 was 1,56 percent.

According to the latest round of forecast, the average annual inflation rate will reach a level of 4.0 percent in 2020 and 2.5 percent in 2021.

NBM Interest rates

06.11.2020 - Today
  • Base rate2.65%
  • Overnight deposits0.15%
  • Overnight credits5.15%

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 ± 3 p.p. to the base rate.

The decision is aimed at supporting domestic aggregate demand, the lending process and the economy as a whole and was taken following the approval, at today's meeting, of the Inflation Report no. 4, 2020.

In August 2020, the monetary base increased by MDL 1,763.8 million (3.7%) compared to the previous month and constituted MDL 48,934.1 million, which constitutes 7.0 % more than in August 2019.

In August 2020, new loans extended by banks totalled MDL 2,621.1 million, an increase of 0.5%, compared to August 2019.

The today's decision was taken based on recent data that confirmed the main assumptions and conclusions reflected in the Inflation Report no. 3, 2020.

In July 2020, new loans extended by banks totalled MDL 3,245.2 million, an increase of 13.8%, compared to July 2019.

In July 2020, the monetary base increased by MDL 1,250.2 million (2.7%) compared to the previous month and constituted MDL 47,170.3 million, which constitutes 3.3 % more than in July 2019.

The annual inflation rate will be relatively stable throughout the forecast period. Being in the lower half of the variation range, it will reach the target only in the middle of 2022.

The NBM is continuously monitoring the macroeconomic situation caused by the pandemic and, in due course, without compromising its fundamental objective of ensuring price stability, will come up with the necessary measures to maintain a sufficient liquidity level for licensed banks, in support of a sustainable and stable banking system. 

In June 2020, the monetary base  decreased by MDL 537.4 million (1.2%) compared to the previous month and constituted MDL 45,920.1 million, which constitutes 2.1 % more than in June 2019.

In June 2020, new loans extended by banks totalled MDL 3,002.9 million, an increase of 6.1%, compared to June 2019.

In May 2020, new loans extended by banks totalled MDL 2,012.1 million, a decrease of 25.9%, compared to May 2019.

In May 2020, the monetary base increased by MDL 766.0 million (1.7%) compared to the previous month and constituted MDL 46,457.5 million, which constitutes 5.0 % more than in May 2019.

This decision reflects the continuity of the NBM’s previous decisions, which creates monetary conditions for lending to the economy.

2019 was marked by many events, both externally and internally, all with an impact on economic activity, prices and national currency.

In April 2020, new loans extended by banks totalled MDL 2,331.8 million, a decrease of 21.2%, compared to April 2019.

In April 2020, the monetary base decreased by MDL 2 206.1 million (4.6%) compared to the previous month and constituted MDL 45,691.5 million, which constitutes 3.6 % more than in April 2019. 

The Executive Board of the National Bank of Moldova approved the Inflation Report no. 2, 2020. This was developed based on evolution of the economy in the Republic of Moldova and globally, recent macroeconomic information on the internal and external environment and reflects the dynamics of inflation.

See more