Moldova cuts rates steeply while Romania holds
IMF says Moldovan central bank has largely neutralised second-round effects
Two central banks in eastern Europe announced contrasting monetary policy decisions, with Moldova sharply cutting rates, while Romania continued to hold.
Moldova: The National Bank of Moldova (NBM) resumed unwinding its 2021–22 cycle of rate increases on November 7. It made a 125 basis point cut, bringing the policy rate to 4.75%. The NBM also reduced its reserve requirements for lenders in both Moldovan and foreign currencies.
Between July 2021 and August 2022, it raised its policy rate by
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