Moldova’s central bank raises key rate to six-year high

CHISINAU – Moldova’s central bank has raised its key interest rate to a six-year high of 15.5% from 12.5%, the fifth successive hike intended to restrain persistent inflation, the bank’s governor Octavian Armasu said on Thursday.

Inflation in Moldova rose to 22.16% in March year-on-year from 18.52% in February, far off the central bank’s target of 5%. Inflation exceeded 5% last September.