The National Bank's foreign exchange reserves reached a new all-time high, continuing to rise during the most recent reporting week. The regulator notes that the figure has increased significantly since the beginning of the year, and new benchmarks have been added to the statistics, allowing for an assessment of the dynamics of reserves denominated in euros.
In Moldova, sectoral indicators pointed to an improvement in economic activity in the third quarter of 2026, although the regulator also noted factors that could intensify inflationary pressures in the coming months. In explaining its latest monetary policy decision, the National Bank highlighted trends in production, trade, transportation, and consumer demand, as well as changes in foreign trade.
The National Bank of Moldova has once again raised its benchmark interest rate, bringing it to its highest level in the past three and a half years. The decision reflects a noticeable tightening of monetary policy: this article examines how the rate has changed in recent months and what levels the regulator has set in the past.
The National Bank of Moldova noted that the balance of risks for inflation in the medium term remains tilted toward rising prices, although the situation may change by the end of the forecast horizon. The regulator attributes this to external uncertainty and a number of domestic factors, and a new inflation review with an updated forecast will be published in the coming days.
Annual inflation in Moldova in September 2026 stood at 8.6%, up by 1.64 percentage points, compared to the previous month and, for the second consecutive month, exceeded the upper limit of the NBM's target range (5% ±1.5 percentage points)
The National Bank of Moldova has once again tightened monetary policy by raising the benchmark rate and adjusting a number of related instruments. The decision was made amid accelerating inflation and revised forecasts, though the regulator left reserve requirement ratios unchanged.
The central banks of Moldova and Bulgaria have agreed to expand their cooperation as Chișinău moves toward aligning with European financial standards. The talks focused on reforms, the modernization of payment infrastructure, and Bulgaria's practical experience in the process of European integration, which could be useful for the Moldovan regulator's next steps.
The National Bank of Moldova urges the public not to fall for misinformation about the banking sector that has been circulating since the cyberattack
The National Bank of Moldova and a European organization specializing in this field have agreed to expand their cooperation in the areas of mortgage lending, real estate financing, and financial stability. The agreement paves the way for the exchange of expertise, joint initiatives, and discussions on approaches that could influence the development of long-term housing finance and the capital market in the country.
In Moldova, bank lending continues to grow faster than the economy, but the National Bank assesses the risk of overheating as moderate. At the meeting on financial stability, participants also reviewed the state of the banking, non-banking, insurance, and securities sectors, which remain generally stable, although changes in portfolio quality and risk dynamics were noted in certain areas.
Moldova will open its negotiating position on one of the key chapters concerning economic and monetary policy to public discussion as part of its process of alignment with the EU. Authorities expect that the upcoming harmonization of regulations will affect the functioning of the financial system, the independence of the regulator, and approaches to public finance management.
Moldova's authorities moved on several fronts, from energy financing and power-grid projects to business regulation, privatisation and financial-sector rules. At the same time, new trade data, a proposed medicine-pricing reform and measures following recent cyber incidents point to a busy policy agenda with implications for companies and consumers alike.
The National Bank has released a draft of new regulations for public consultation that significantly change the approach to digital resilience in the financial sector. The document will address IT risk management, incident response, system testing, and oversight of third-party providers, and the requirements are scheduled to be implemented in phases starting in 2029.
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