The National Bank of Moldova raised its benchmark interest rate by 50bps to 7.5 percent on July 31st 2019. It was the second hike in borrowing costs this year, in an effort to reduce inflationary pressures and to stabilize the exchange rate of the national currency. The Bank noted, that the evolution of inflation in the recent months was influenced by the increase in international prices for food and regulated products. The overnight credit rate was also adjusted to 10.5 percent from 10 percent and the overnight deposit rate to 4.5 percent from 4.0 percent. Interest Rate in Moldova averaged 10.56 percent from 2001 until 2019, reaching an all time high of 21 percent in January of 2001 and a record low of 3.50 percent in April of 2013.
Interest Rate in Moldova is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Moldova to stand at 7.50 in 12 months time. In the long-term, the Moldova Interest Rate is projected to trend around 7.50 percent in 2020, according to our econometric models.