News about Monetary policy

Weak employment data, which reduces the likelihood of a Fed rate hike, was the most likely cause of the U.S. dollar’s decline. The dollar index fell 0.6% over the week, its biggest drop since April.

The government will review the issue of adjusting the minimum wage in consultation with employers’ associations and labor unions at least once a year.

Municipal bonds are a promising financial instrument characterized by low costs, transparent allocation of funds, and—just as importantly—effective oversight of their use. They are already emerging as a clear alternative to bank loans for local governments.

In 2000, the U.S. dollar accounted for nearly 59% of global reserves, and by the end of 2025, that share had fallen to just under 40%.

The National Bank of Moldova (NBM) ended 2025 with a loss of 873 million lei, while the year before, the regulator posted a record net profit of 6 billion lei. Over the year, the financial result deteriorated by almost 7 billion lei, according to the published financial statements.

In the coming decade, the number of central banks planning to reduce the share of the U.S. dollar in their reserves will exceed the number of those intending to increase it. According to the results of a survey of sovereign investors published by the London-based think tank OMFIF (Official Monetary and Financial Institutions Forum), against the backdrop of growing political risks associated with the U.S. currency, a clear trend toward reducing dollar reserves has been observed for the first time.

At its shareholders’ meeting on June 30, Russia’s largest bank decided to pay dividends amounting to 50% of last year’s net income.

The U.S. Supreme Court ruled that Federal Reserve Board member Lisa Cook may remain in office during the legal proceedings regarding President Donald Trump’s attempt to have her removed from office.

Current “stablecoins” do not possess the key properties of money, and their continued growth could exacerbate the fragmentation of the financial system and increase risks for countries with weaker currencies. This is stated in the annual report of the Bank for International Settlements (BIS).

The European Parliament has approved its position on legislation regarding the digital euro, removing one of the key obstacles to the European Central Bank’s (ECB) project.

The rise in global oil and food prices is indeed putting inflationary pressure on Moldova’s economy. However, the key risks facing the country right now are different: inefficient borrowing and rising budget expenditures—this is precisely what sets Moldova apart today.

As of the end of May, Moldova’s total public debt had risen to 143.1 billion lei, compared with 122.1 billion lei a year earlier. Over the course of the year, the country’s debt burden increased by 21 billion lei. Nevertheless, according to estimates by the Ministry of Finance and the IMF, the current ratio of total public debt to GDP remains within a safe range (around 37–38% of GDP).

Gold fell below $4,000 per ounce for the first time since last November, while silver broke through the $60 mark. Precious metals came under pressure from a strengthening dollar and growing expectations of a tighter monetary policy by the U.S. Federal Reserve.

On Wednesday, the U.S. dollar continued to strengthen, reaching a new 13-month high against a basket of major currencies. Investors sought shelter from the sharp decline in tech stocks and braced for a possible interest rate hike by the Federal Reserve (Fed).

The European Parliament’s Committee on Economic and Monetary Affairs approved the digital euro on Tuesday. This is part of the EU’s effort to reduce its dependence on U.S.-controlled payment systems.

Despite a significant slowdown in economic growth in the first quarter of the year (+0.4%), the central bank nevertheless identified a host of pro-inflationary factors and made the fight against inflation its top priority.

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.