News about Monetary policy

Central banks of the world are preparing for a “stable state of affairs” against the backdrop of worsening volatility in the energy market and are in no hurry to change the cost of borrowing. Many financial analysts come to this conclusion in their publications, considering this position to be fundamentally different from the inflationary crisis of 2022.

So far, 376 decisions on the merger of mayoralties have been taken at the local level, said Alexei Buzu, secretary-general of the government, in connection with the parliamentary approval of a law that simplifies the process of voluntary merger.

The union demanded “legislative predictability” and the urgent implementation of European norms that require the minimum wage to be 50% of the projected average wage.

The Ministry of Finance has announced its intention to amend Law No. 34/2024 on cash payments and invites professionals and stakeholders to engage in the process by submitting comments by May 13 this year.

The government backs the parliamentary initiative on the re-introduction of the minimum rates of the real estate tax, as well as the transfer of the right to local public administration bodies to establish exemptions or exemptions on the payment of real estate tax for certain categories of citizens.

Economist Vladimir Golovatiuc notes that the active sale of foreign currency by the Moldovan population has recently become a significant support for the family budget. In his opinion, this indicates the forced use of currency receipts due to the fall in real incomes.

As of spring 2026, the foreign exchange market of Moldova is characterized by high volatility and instability. At the same time, the situation with meeting the demand for currency is difficult, but does not indicate a complete deficit.

According to the data of the National Bank of Moldova (NBM), in March 2026, the volume of new loans issued amounted to 9,039 million lei. Of these, 70.8% of loans were issued to enterprises (business sector), and 29.2% to individuals. Lending was performed mainly in Moldovan lei (MDL).

The spring meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington, DC (April 13-19, 2026) concluded with a focus on supporting the hardest hit countries in the face of global uncertainty and necessary structural reforms.

In March 2026, the volume of attracted new deposits amounted to 27,254 million lei, one third of which was provided by the population. Compared to February, the volume of new deposits increased by almost 7%.

In March, according to the National Bank of Moldova (NBM) data, the trend of excess of cash withdrawals over cash inflows continued in the banking sector of Moldova. These indicators emphasize the continuing high demand of the population for cash.

Due to the Gulf War, the inaction of the U.S. Federal Reserve and tightening policies in Europe and Asia-Pacific, some currencies are pulling away from the weakening U.S. dollar.

Major Wall Street banks, including Deutsche Bank and Wells Fargo, believe that the dollar’s rise is over. The reason is the decline in tensions around Iran and the return of investors to risk.

In early April 2026, the international agency Moody’s Ratings upgraded Moldova’s long-term sovereign credit rating from B3 to B2 with a “stable” outlook. This decision, which became the highest rating in the last 25 years, caused a lot of enthusiastic comments from the country’s authorities.

In April, the Moldovan leu showed a moderate strengthening against the US dollar and a slight weakening against the euro.

Polish Finance Minister Andrzej Domanski has urged Poles to keep cash at home in case of possible emergencies.

In the financial markets, the probability of an interest rate hike at the ECB meeting on April 30 is estimated at 20%, but an increase in June has already been factored into prices. However, the European Central Bank has taken a wait-and-see stance.

The National Bank of Moldova (NBM) is tightening consumer credit rules from June 2026 to prevent over-indebtedness of the population. The new measures include limiting the maximum term of consumer loans to 5 years, mortgage loans – to 30 years, and leasing – to 7 years. The list of income to be taken into account when assessing solvency has also been expanded. The relevant regulations have been approved and will enter into force in June 2026.

European Central Bank chief Christine Lagarde has publicly backed Hungary’s possible switch to the euro, a signal that could mark a sharp reversal in the country’s economic policy after a change of government.

The weakening of the dollar in the current environment may be mainly due to changes in US monetary policy and geopolitical factors affecting commodity markets.