Moldova raises rates as inflation hits 31.8%

National Bank of Moldova

Policy-makers at the National Bank of Moldova voted unanimously on August 4 to increase the main interest rate by three percentage points, taking it to 21.5% – a record high. 

Consumer price index (CPI) inflation reached 31.8% in June and prices, especially gas, are still rising.

The country of just over 2.5 million is particularly vulnerable to escalating gas prices as a consequence of the Russian invasion of Ukraine. Molodovagaz has asked Russian company Gazprom to defer its August payments

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