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  • Schedule of reception of citizens by the Executive Board of the National Bank of Moldova.
    The registration of applicants for an audience is carried out based on a written request on the subject addressed.


  • Anca Dragu, Governor

    1st Wednesday of the month: 14.00-16.00.


  • Petru Rotaru, First Deputy Governor

    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.

Please, note the requirements for receiving and examining petitions and requests for access to information of public interest addressed to the National Bank of Moldova!

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Calendar of data dissemination

06.03.2026

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 January 2026 was 4,85 percent.


NBM Interest rates

11.12.2025 - Today
  • Base rate5.00%
  • Overnight deposits3.00%
  • Repo rate5.25%
  • Overnight credits7.00%

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.

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 November 2025, new loans granted amounted to MDL 6,930.5 million, decreasing by 1.6% as compared to the previous month.

The decision aims to stimulate aggregate demand, which is currently disinflationary, including by encouraging consumption and investment, balancing the national economy and the current account, as well as anchoring inflation expectations.

In October 2025, new loans  granted amounted to MDL 7,044.4 million, decreasing by 2.7% compared to the previous month.

New term deposits attracted in October 2025 totalled MDL 4,475.9 million, decreasing by 1.5% as compared to September 2025.

In November 2025 the monetary base amounted to MDL 81,505.4 million, which represents a decrease by 2.0% compared to October 2025 and an increase by 0.4% compared to the same period of the previous year.

The annual inflation rate will decline until the first half of next year, then rise slightly towards the end of the forecast period, except for the last quarter.

The prudent adjustment of monetary policy seeks to bring inflation back and keep it within the medium term within the range of ±1.5 percentage points from the target of 5.0 percent.

In October 2025 the monetary base amounted to MDL 83,181.8 million, which represents a decrease by 0.3% compared to September 2025 and by +2.9% compared to the same period of the previous year.

In September 2025 the monetary base amounted to MDL 83,394.3 million, remaining practically at a level similar to that of August 2025 and decreasing by +0.7% compared to the same period of the previous year.

New term deposits attracted in September 2025 totalled MDL 4,546.3 million, increasing by 6.2% as compared to August 2025.

In August 2025 the monetary base amounted to MDL 83,389.8 million, increasing by MDL 1,626.5 million (+2.0%) compared to July 2025, and was at a level similar to that of the corresponding period of the previous year.

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