Moldova central bank reduced rates by 400 bps to 10.0% as inflation decelerated to 18.1% YoY in April, down from 30.2% in December. That marks the fourth reduction in key rate since August’s 21.5%. Factors such as tariff hikes, the impact of the war in Ukraine, last summer’s drought, and excise duty increases at the year’s start have maintained inflation above the target. However, the central bank noted that disinflationary demand and the appreciation of the Moldovan leu are helping to counteract these factors.