News about Monetary policy
The Government of the Republic of Moldova and the international payment company Mastercard have announced the launch of the Digital Country Partnership program—a collaborative initiative aimed at supporting the digital transformation of the economy, modernizing public services, and expanding financial inclusion.
The Federation of Public Service Workers’ Unions (SINDASP), which represents the interests of more than 16,000 union members, expresses its concern and disagreement with the bills concerning the reform of tax, customs policy, and the wage system. The organization notes that, in addition to reducing pay scales and cutting a number of wage supplements, the government is blocking collective bargaining and restricting workers’ labor rights.
Gold still has the potential to rise to $5,200 per ounce, but the path to that level is quite challenging. The main obstacle remains the U.S. Federal Reserve’s (Fed) hawkish policy, which is keeping interest rates high and dampening investor interest in safe-haven assets.
People continue to actively withdraw funds from their accounts and deposits for personal needs. According to data from the National Bank of Moldova (NBM), the volume of cash withdrawals from bank vaults in May 2026 exceeded the volume of deposits by 412 million lei. This cash flow imbalance has persisted from month to month, fluctuating between increases and decreases.
The Ministry of Finance has launched public consultations on a draft reform of the public sector compensation system, which will run until July 2, 2026.
The State Tax Service is expanding the automatic exchange of financial information with foreign partners. Parliament has ratified amendments that include digital assets, such as cryptocurrencies, in the reporting system and expand the range of data subject to automatic exchange.
At its meeting on June 18, 2026, the Executive Committee of the National Bank of Moldova unanimously raised the base rate from 6.5% to 7% per annum. The reserve requirement ratios for funds raised in Moldovan lei and in convertible foreign currency were maintained at their current levels—18% and 26% of the reserve base, respectively.
The price of the leading cryptocurrency fell below $64,000. The digital asset market reacted to the outcome of the first Fed meeting under Kevin Warsh’s leadership with a decline.
The Egyptian pound has become the world’s best-performing currency following a sharp drop in oil prices resulting from the U.S.-Iran agreement to reopen the Strait of Hormuz — a move that is expected to restore supplies and ease inflation fears, according to Bloomberg.
The Anti-Money Laundering Service is introducing a new specialized position: “financial intelligence officer.” This move is intended to bring Moldovan legislation into line with the international standards of the Egmont Group.
In its latest June report on financial stability, the International Monetary Fund recommends that the National Bank of Moldova (NBM) strengthen protections for commercial banks to help them weather potential economic and financial shocks. IMF experts also suggest paying closer attention to foreign exchange risks, maintaining the flexibility of the national currency, and fostering confidence in the banking system and the regulator’s policies as a whole.
Moldova is expanding its international exchange of financial information. The Committee on Economy, Budget, and Finance will consider amendments to the Multilateral Agreement among Competent Authorities on the Automatic Exchange of Financial Account Information.
The United Kingdom has expanded sanctions against the Russian financial sector, adding the subsidiary banks of Russia’s largest digital companies—WB Bank and Yandex Bank—to the blacklist.
The Reserve Bank of Australia (RBA) kept its key interest rate at 4.35% following a series of hikes, maintaining a cautious monetary policy stance amid ongoing inflationary risks.
On Tuesday, Bitcoin stabilized after regaining some ground in recent sessions: caution ahead of the signing of a peace agreement between the U.S. and Iran, as well as the upcoming Federal Reserve meeting, kept major price movements in check.
To encourage legal employment and ensure that every worker receives a monthly income, the authorities are proposing to replace the current personal tax exemption with monthly payments. These payments will be funded by refunding a portion of the income tax they have paid.
International investors are reducing their investments in gold. Over the past week, net outflows from gold exchange-traded funds (ETFs) totaled $2.3 billion. These figures were provided by the research firm Emerging Portfolio Fund Research (EPFR).
At its meeting on June 11, 2026, the European Central Bank (ECB) raised its three key interest rates by 25 basis points. This decision marked the first rate hike since September 2023 and was a response to inflationary pressures caused by the geopolitical crisis and the war in the Middle East. The ECB downgraded its forecast, expecting average inflation in 2026 to reach 3.0%. The baseline forecast for eurozone GDP growth in 2026 has been lowered to 0.8%.
As of June 1, Belarus’s gold and foreign exchange reserves (GFXR) had declined by $228.6 million to $15.038 billion. Experts from the Eurasian Development Bank cited the reasons for this decline.
The euro’s role in foreign policy needs to be strengthened. The European Central Bank (ECB) called for this a year ago, but little has changed since then. The results of the first year of the euro’s global promotion have been disappointing. The European currency has yet to break free from its transatlantic dependence.
