• 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.

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Calendar of data dissemination

12.08.2022

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 July 2022 was 33,55 percent.

According to the latest round of forecast, the average annual inflation rate will reach a level of 29.5 percent in 2022 and 15.7 percent in 2023.

NBM Interest rates

04.08.2022 - Today
  • Base rate21.50%
  • Overnight deposits19.50%
  • Overnight credits23.50%

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 Executive Board's decision aims at tempering the rapid growth rates of consumer prices, mitigating the secondary effects of supply shocks, stimulating financial intermediation in the national currency and saving against consumption, stabilizing the trade balance, as well as anchoring inflationary expectations.

 

In May 2022, new loans extended  by banks totaled MDL 4,120.2 million , increasing by 24.5% compared to May 2021.

In May 2022, the monetary base increased by MDL 3,065.3 million (5.4%) compared to the previous month and constituted MDL 59,747.4 million, being 6.1% higher than in the similar period of the previous year.

Subsequent decisions of the Executive Board will depend on the dynamics and medium-term outlook for inflation, while monitoring and assessing risks from the internal and external environment.

In April 2022, the monetary base decreased by MDL 1,949.0 million (3.3%) compared to the previous month and constituted MDL 56,682.1 million, being 1.1% higher than in the similar period of the previous year.

In April 2022, new loans extended by banks totaled MDL 3,672.5 million , increasing by of 0.7% compared to April 2021.

The NBM is carefully monitoring the inflationary process, including the associated factors, risks, and uncertainties, and will adjust its monetary policy instruments in a timely manner to achieve the fundamental objective of ensuring and maintaining price stability.

In March 2022, the monetary base increased by MDL 1,887.9 million (3.3%) compared to the previous month and amounted to MDL 58,631.1 million, being 6.6 percent higher than in March 2021.

In March 2022, new loans extended by banks totaled MDL 4,534.4 million, recording an increase of 29.1% compared to March 2021.

In February 2022, new loans extended by banks totaled MDL 4,023.8 million, recording an increase of 50.5% compared to February 2021.

In February 2022, the monetary base decreased by MDL 706.1 million (1.2%) compared to the previous month and amounted to MDL 56,743.2 million, being 1.2 percent higher than in February 2021.

Decizia respectivă urmărește atenuarea presiunilor inflaționiste persistente la adresa procesului inflaționist, creând precondiții pentru readucerea inflației în limitele intervalului de variație al țintei în termen mediu, inclusiv prin ancorarea anticipațiilor inflaționiste și atenuării efectelor secundare aferente majorării tarifelor reglementate.

In January 2022, the monetary base  decreased by MDL 98.9 million (0.2%) compared to the previous month and amounted to MDL 57,449.3 million, being 2.3 percent higher than in January 2021.

In January 2022, new loans extended by banks totaled MDL 2,822.1 million, recording an increase of 33.5% compared to January 2021.

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