Moldovan central bank reverses tightening cycle

National Bank of Moldova
The National Bank of Moldova

Moldova’s central bank cut its policy rate at an unscheduled meeting today (December 5), ending a long series of hikes.

Governor Octavian Armasu announced the National Bank of Moldova was cutting the rate by 150 basis points, from 21.5% to 20%. The cut came despite high and rising inflation, and a fall in the country’s currency.

The move appears to mark the end of a lengthy tightening cycle by the NBM, which began hiking in July 2021 from 2.65%. It went on to raise the rate 10 times in total

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