The National Bank of Moldova (NBM) is launching the yield curve, a key financial analysis tool that contributes to the development of the financial market and its alignment with international best practices.

The yield curve is a graphical representation that shows the relationship between interest rates and different time periodsmaturities of financial instruments and is a key benchmark for market participants, financial institutions, investors, and public authorities. It provides a clear picture of financing in the short, medium, and long term, and is essential for analysing financial markets and enhancing transparency in the pricing process of financial instruments.

The yield curve is constructed on the basis of transactions with government securities carried out on the primary and secondary markets, quotations published for government securities on the unified single trading platform, as well as transactions in the money market, both from the NBM and interbank transactions, using a transparent and standardised methodology that ensures the relevance and comparability of data.

"The launch of the yield curve brings more transparency and efficiency and demonstrates our ability to implement modern standards aligned with European requirements and practices. It is a clear signal to investors that our market is becoming more credible and predictable, offering the opportunity to make informed financial decisions," emphasises National Bank Governor Anca Dragu.

Through this initiative, the National Bank of Moldova aims to:

• improve risk assessment mechanisms and financial instruments;
• increase market transparency and predictability;
• support the decision-making process of investors and other market participants;
• strengthen the reference framework for setting interest rates.

The yield curve will be published weekly on the NBM's official website (link to the curve) and will be updated in accordance with the approved methodology.

The National Bank of Moldova reaffirms its firm commitment to the continuous development of the financial market and to promoting a transparent, efficient, and credible framework that serves the interests of all participants—from citizens and companies to investors and financial institutions.