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28.8 29.4
Economy 2018-09-15T04:52:36+03:00
Ukrainian news
NBU Retains Discount Rate At 12.5%

NBU Retains Discount Rate At 12.5%

The National Bank of Ukraine has retained the discount rate at the level of 12.5%.

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

According to the report, the NBU's board considers pricing stability the main condition for steady economic growth.

At the same time, the NBU intends to gradually relax currency exchange regulations by relaxing temporarily administrative restrictions lifting of which will not put currency exchange market at risk of destabilization.

The aforesaid plans are possible to achieve under wise fiscal policy and also provided Ukraine continues to be part of a program of cooperation with the International Monetary Fund that envisages implementation of structural reforms.

The monetary committee will hold next meeting on September 14.

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

For a while the Regulator maintained the discount rate at the level of 30%.

On August 28, the NBU reduced the discount rate to 27%, and on September 25 cut it to 22%.

On April 22, the National Bank further reduced the rate from 22% to 19%, on May 27 - to 18%, and on June 24 cut it further to 16.5%.

On July 29, 2016, the NBU reduced the discount rate from 16.5% to 15.5%, and on September 16, 2016 cut it down to 15%.

On October 28, 2016, the NBU reduced the discount rate from 15% to 14%, in December 2016 and January 2017 kept it at that level, and in April 2017 dropped it further to 13%, and in May 2017 to 12.5%.

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