(Adds detail on monetary policy changes, quote)
CHISINAU, Aug 26 (Reuters) - The Moldovan central bank raised its main interest rate to 19.5 percent from 17.5 percent on Wednesday in a further bid to control inflation, its sixth increase since the start of 2015.
Along with other former Soviet republics, Moldova has been hit by an economic downturn in Russia, a key trading partner, triggered by the Ukraine crisis and a plunge in oil prices.
“Weak economic activity in the euro zone, Russia’s recession ... (and) a fall in remittances and exports are factors influencing the rise in inflationary pressure,” the central bank said in a statement.
Central bank Governor Dorin Dragutanu said inflation accelerated to 8.6 percent in July and could reach 11.2 percent by the end of 2015, compared with a target of 5 percent.
The bank also raised the rate on overnight loans and overnight deposits by 2 percentage points to 22.5 percent and 16.5 percent respectively.
Bank reserve requirements for the national leu currency were raised 3 percentage points to 35 percent, coming into effect from Nov. 7. The leu has weakened over the past year from 14 to the dollar in mid-2014 to the current level of around 19.
Reporting by Alexander Tanas; Writing by Alessandra Prentice; Editing by Mark Heinrich