Interesting that no-one mentions letter-spacing.
It is possible to add letter spacing to the normal font and remove it for the bold version.
Getting it right is not always possible and depends a lot on the font and the font-size. But with more browsers starting to accept subpixel values for letter-spacing it starts to be more practical.
Example:
.nav-link.active {
font-weight: bold;
/* Adjust for font-weight bold so that the text will still align */
letter-spacing: -1px;
}