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Economy 2020-06-15T06:10:43+03:00
Ukrainian news
NBU Retains Discount Rate At 12.5%

NBU Retains Discount Rate At 12.5%

NBU, discount rate, inflation

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

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

The statement reads that the decision was prompted by the need to return inflation to the target path.

The National Bank notes that the annual headline inflation accelerated further to 16.2% in August.

Meanwhile, in monthly terms, the Consumer Price Index (CPI) decreased by 0.1%, reflecting a seasonal decline in the prices of fruit, vegetables, clothing and footwear.

The statement reads that underlying inflationary pressure remained moderate, due to a further improvement in inflation expectations of both financial analysts and households.

FX market conditions were yet another factor restraining inflation.

The next meeting of the NBU Board on monetary policy issues will be held on October 26 as scheduled.

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

For a while the central bank 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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