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Economy 2020-06-15T05:41:18+03:00
Ukrainian news
NBU's Monetary Policy Committee: Lower Discount Rate Unlikely This Year

NBU's Monetary Policy Committee: Lower Discount Rate Unlikely This Year

NBU, discount rate, monetary policy

The monetary policy committee of the National Bank of Ukraine does not think the discount rate can become lower in 2018.

The monetary policy committee discussed the discount rate at its meeting, Ukrainian News Agency reports.

While discussing the monetary policy most members of the monetary policy committee of the Ukrainian central bank expressed the opinion that the discount is unlikely to become lower this year.

Moreover, most of members of the committee believe that the National Bank will have to preserve tough monetary environment further than it was planned initially, including to the faster growth in the rates of the Federal Reserve System of the United States.

One of members of the committee was more optimistic and said the discount rate can become lower at the end of 2018.

The monetary policy committee discussed possible foreign economic risks like full-fledged trade wars in the world that can cause sudden changes of commodity prices in the world and affect the access of Ukrainian goods to the foreign markets and cut the foreign currency proceeds.

Members of the monetary policy committee agreed that in case of aggravation of fundamental inflation risks the National Bank may continue to raise the discount rates.

As Ukrainian News Agency earlier reported, the Board of the National Bank decided to retain the discount rate at 17.0% at a meeting on the issues of monetary policies on April 12, 2018.

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