The Collaborative International Dictionary of English v.0.48:

Moderato \Mod`e*ra"to\, a. & adv. [It. See Moderate.] (Mus.)
   With a moderate degree of quickness; moderately.
   [1913 Webster]

   Allegro moderato, a little slower than allegro.

   Andante moderato, a little faster than andante.
      [1913 Webster]

WordNet (r) 3.0 (2006):

moderato
    adj 1: (of tempo) moderate