NBU keeps key rate at 15%

The Board of the National Bank of Ukraine (NBU) has decided to keep the key rate at 15%.

The NBU announced this, Ukrainian News Agency reports.

The NBU will continue to respond flexibly to both actual trends and changes in the distribution of risks for price dynamics, the foreign exchange market, and inflation expectations.

Provided that significant inflationary risks persist, the NBU will refrain from easing interest rate policy. However, if they further increase, the NBU will be ready to raise the key rate and take additional measures to maintain price stability.

Despite a certain decrease in market rates in response to the NBU's easing of interest rate policy in January, hryvnia instruments remained attractive. The volumes of individuals' term deposits in banks and their portfolio of investments in government bonds grew.

As Ukrainian News Agency earlier reported, in March 2021, the NBU raised the key rate to 6.5%, in April - to 7%, in July - to 8%, in September - to 8.5%, in December - to 9%, in January 2022 - to 10%, in June 2022 - to 25%.

In July 2023, the NBU reduced the key rate from 25% to 22%, in September - to 20%, in October - to 16%, in December - to 15%, in March 2024 - to 14.5%, in April - to 13.5%, in June - to 13%, in December 2024 it increased to 13.5%, in January 2025 - to 14.5%, in March - to 15.5%, in January 2026 the NBU reduced the key rate to 15%.

At the same time, the Board of Directors of the Bank of russia at a previous meeting decided to reduce the key rate from 16% to 15.5% per annum.