Moldova continues rate climb as inflation passes 20%

National Bank of Moldova
National Bank of Moldova

The National Bank of Moldova raised interest rates by 300 basis points to 15.5% on May 6, the largest rate hike yet in a months-long campaign against steadily rising inflation. The decision is the eighth consecutive increase and brings the rate to its highest level since 2016.

Despite increasing rates by nearly 13 percentage points in slightly over nine months, the NBM has been unable to stop inflation breaching the target band of 5% plus or minus 1.5%. In March, Moldova reported year-on-year

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