Moldova's Central Bank lowers basic rate by 0.5 p.p.

The National Bank of Moldova board has dropped the basic rate by 0.5 p.p., from 10.0 to 9.5 % annually.

The inflation rate is slowing increasing within the annual gauge of 5.0%. The annual inflation rate for August 2016 was 3.6 %, that’s 3.4 p.p. lower m/m.

In quarter II, 2016, the economy grew 1.8 % y/y.

In July 2016, the exports rose 0.5 % y/y, as the imports fell 7.9 %. The industrial output dropped 5.2 %, the services -- 5.6 %, while the commerce grew 1.2 %. In August 2016, the freighted goods soared 19.0 %.

The remittances of natural entities transferred through banks fell 6.0 % in the first 8 month, y/y/, but jumped 18.4 % in August, compared to August 2015.

The inflation-related external risks are associated with diminished economic activity in the Euro countries, and the continuous recession in Russia – Moldova’s key trade partners. 

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