Annual inflation in Moldova accelerated to 10.8 per cent in October from 8.6 per cent in September (6.96 per cent in August), reaching its highest level since June 2023. The latest figures have been released by the National Bureau of Statistics (NBS), which notes a peak in consumer price growth across all categories of goods and services.
The official reserve assets of the National Bank of Moldova (NBM) reached a new all-time high, standing at €5,652.94 million as at 30 October 2026. The main driver of this rapid growth was the receipt of a substantial financial tranche from the European Commission as part of the Economic Growth Plan for Moldova.
From 6 November 2026, BPAY’s services have been temporarily suspended following a decision by the Executive Committee of the National Bank of Moldova. BPAY cards are unavailable for the duration of the suspension.
The central bank has moved to tighten monetary policy sharply. At its meeting on 5 November, the Executive Committee of the National Bank of Moldova (NBM) raised the base rate by 2 percentage points in one go. The interest rate hike also affected other operations. The decision was driven by mounting inflationary pressures and growing risks to price stability in the medium term.
Moldova’s negotiating position on the section concerning economic and monetary policy does not envisage a transitional phase on the path to the European Union. Public consultations on this chapter took place today at the Ministry of Finance, with the participation of the National Bank of Moldova (NBM) and other stakeholders. By the end of 2027, the country will be fully prepared, from a legal perspective, for the integration of the financial systems, as promised by the ministry.
The National Bank of Moldova (NBM) has officially urged citizens not to panic and not to believe false reports of money being stolen as a result of the recent cyber-attack. The regulator issued a special statement in response to the spread of false information and misinterpretations in the public domain, which could mislead the public.
In mid-2026, the non-bank financial sector’s aggregate loan portfolio showed steady growth of 4 per cent. This figure was the same for both market segments — non-bank lending organisations (OCN) and savings and loan associations (ACA). The main driver of this positive trend was the active expansion of financing for legal entities.
The share of non-performing (distressed) loans in the banking system stood at 5.2 per cent of the total loan portfolio as at mid-2026. The lending boom continues to grow at a rapid pace; however, the National Bank assesses the associated risks as manageable. This information is presented following the latest meeting of the National Committee on Financial Stability.
The National Bank of Moldova (BNM), in partnership with the European Mortgage Federation – European Council for Covered Bonds (EMF-ECBC) and the Association of Banks of Moldova, is organising the first international conference dedicated to long-term mortgage financing. This major forum will take place in Chișinău this Thursday, 29 October.
The country’s financial system is transitioning from a strict authorisation-based regime to liberalisation and the subsequent monitoring of cross-border capital flows. The reform has been developed by the regulator as part of the harmonisation of national legislation with EU standards, under which the free movement of capital is one of the fundamental economic freedoms. The phased reform plan is designed to run until the Republic of Moldova’s full accession to the European Union.
