• 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;
    Telephone: +373 22 822 606.


  • Vladimir Munteanu, First Deputy Governor

    2nd Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 606.


  • Tatiana Ivanicichina, Deputy Governor

    3rd Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 607.


  • Constantin Șchendra, Deputy Governor

    4th Wednesday of the month: 14.00-16.00;
    Telephone: +373 22 822 607.

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!

Details

 

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2024

In December 2023, inflation was within the target range for the third consecutive month. Thus, today's decision by the NBM contributes to strengthening this performance, further stimulating the currently disinflationary aggregate demand, including by encouraging consumption, balancing the national economy and anchoring inflation expectations.

2023

Decizia BNM urmărește menținerea condițiilor monetare pentru stimularea în continuare a cererii agregate, inclusiv prin încurajarea consumului, echilibrarea economiei naționale și ancorarea așteptărilor inflaționiste.

The NBM aims to stimulate credit and support domestic aggregate demand by encouraging both consumption and investment, balancing the national economy and anchoring inflation expectations with a view to keeping inflation within the target range over the medium term.

This decision is adopted in view of the continuing propagation of the monetary policy easing measures of the last period and aims to anchor inflation expectations and ensure the necessary monetary conditions to bring inflation back to and maintain it close to the 5.0 percent medium-term inflation target.

This decision is taken in the context of the continued propagation of the stimulus effects, which are influenced by the decisions of the NBM in the previous period.

This decision continues the series of stimulus measures adopted by the NBM in the last period and aims to create the monetary conditions necessary to bring inflation back within the range of ± 1.5 percentage points of the inflation target of 5.0 percent and to maintain it within this range over the medium term.

The NBM will continue to monitor the inflation process, assessing the associated risks and uncertainties, and further decisions of the Executive Board will depend on the updated inflation outlook.

The ease in monetary decision continues the stimulative monetary policy measures adopted since the end of last year.

This decision is adopted from the perspective of ensuring the continuity of stimulus measures in the context of the monetary policy relaxation cycle started at the end of the previous year amid well-founded premises associated with the creation of a disinflationary macroeconomic framework.

2022

The Decision of the NBM to resume monetary policy relaxation measures is conditioned by confirming the accuracy of the latest forecast of the National Bank of Moldova and the related disinflationary trend.

Today's decision was adopted in the conditions of the transmission of the effects of the previous monetary policy measures and aims to slow down consumer prices.

Decizia Comitetului executiv vine în contextul propagării măsurilor restrictive de politică monetară adoptate anterior, efectele cărora vor continua să acționeze o perioadă mai îndelungată, date fiind decalajele în transmisia acestora.

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.

 

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.

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.

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.

The decision seeks to mitigate persistent inflationary pressures on the inflation process, creating preconditions for bringing inflation back within the range of the medium-term target range, including by anchoring inflation expectations and mitigating the side effects of increasing regulated tariffs.

The analysis and evaluation of recent macroeconomic information related to the external and internal environment, especially the recent acceleration of inflation, have led to an extraordinary meeting of the Executive Board of the National Bank of Moldova.

2021

The decision aims to create the monetary conditions necessary to temper the growth rates of consumer prices. 

The Executive Board of the National Bank of Moldova voted in the monetary policy meeting of October 29, 2021 to maintain the base rate applied to the main short-term monetary policy operations at the current level of 5.5 percentage points.

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