National Bank raises base rate to 11% a year
The National Bank of Moldova raised its base rate by two percentage points, from 9% to 11%, so loans may become more expensive.
What it means for you
Bank loans may become more expensive, because commercial banks tend to raise interest rates after the NBM decision. The overnight loan rate rises from 11% to 13%, and the overnight deposit rate from 7% to 9%. The minimum reserve requirement stays at 18%.
What happened
The National Bank of Moldova (NBM) raised its base rate from 9% to 11% a year at its meeting on 5 November 2026. The executive committee adopted the decision unanimously. The central bank also raised the rates for overnight loans and overnight deposits.
In short
- The repo operations rate rose from 9.25% to 11.25%.
- Annual inflation reached 8.6% in September, 1.64 percentage points higher than the month before.
- The NBM expects inflation to keep rising until the end of 2026.
- The central bank forecasts that inflation will return to its target range only in the third quarter of 2027.
Original sources
- Ultima oră! Creditele se scumpesc, din nou. BNM a majorat rata anuală de bază la 11% · in RomanianRead it on Unimedia
- Creditele se vor scumpi! BNM majorează rata de bază la 11%, cel mai ridicat nivel din ultima perioadă · in RomanianRead it on Realitatea.md
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