NBU Retains Discount Rate At 14%

The National Bank of Ukraine has retained the discount rate at the level of 14%.

The central bank has said this in a statement, Ukrainian News Agency reports.

According to the statement, January inflation sped up to 12.6% year over year, which complied with the outlook of the Regulator.

Slight speeding up of the inflation took place in view of the growth of production expenditures, inter alia for foodstuff; weakening of the Ukrainian local currency in late 2016 and first half of January 2017.

In February, the NBU says that inflation continued expected speeding up mainly at the expense of the comparative base effect.

The NBU notes that country's economy continues restoring, inter alia thanks to favorable external situation and high investment demand.

As Ukrainian News Agency earlier reported, since March 4, 2015, the NBU has raised the discount rate from 19.5% to 30%.

Then, the central bank several times retained the discount rate at 30%.

On August 28, the NBU lowered it to 27% and to 22% on September 25, 2015.

Then the central bank lowered the discount rate from 22% to 19% on April 22, from 19% to 18% on May 27 and from 18% to 16.5% on June 24.

On July 29, 2016, the Regulator lowered the discount rate from 16.5% to 15.5%, on September 16, 2016 from 15.5% to 15%, from 15% to 14% on October 28, 2016 and retained it at 14% for December 2016 - January 2017.

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