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Economy 2019-11-17T04:03:12+02:00
Ukrainian news
NBU Lowers Discount Rate From 16.5% To 15.5%

NBU Lowers Discount Rate From 16.5% To 15.5%

NBU, discount rate, inflation

The National Bank has lowered the discount rate from 16.5% to 15.5%.

The NBU has said this in a statement on the results of the meeting of the monetary committee, Ukrainian News Agency reports.

In September 2019, consumer inflation slowed year-on-year to 7.5% and was below the forecast published in the July inflation report.

The decrease in inflation continued in October, as the results of the preliminary assessment of the National Bank show.

The basis of this steady trend is the gradual weakening of fundamental pressure on prices, a sign of which is the rapid deceleration of core inflation.

Tight monetary policy has become one of the reasons for the appreciation of the exchange rate and the improvement of inflation expectations.

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

Later, the central bank retained the discount rate at the level of 30% several times.

On August 28, 2015, the central bank lowered the discount rate to 27%, and on September 25, 2015 - to 22%.

Since April 22, 2016, the National Bank lowered the discount rate from 22% to 19%, on May 27, 2016 - from 19% to 18%, on June 24 - from 18% to 16.5%.

On July 29, 2016, the National Bank lowered its discount rate from 16.5% to 15.5%, from September 16, 2016 - from 15.5% to 15%.

On October 28, 2016, NBU lowered discount rate from 15% to 14%, and in December 2016 and January 2017 - retained at 14%, in April 2017 - lowered to 13%, in May 2017 - lowered to 12.5% in October - raised to 13.5%, in December 2017 - raised to 14.5%, in January - raised to 16%, in March 2018 - raised to 17%, in July 2018 - raised to 17.5%, in September - raised to 18%, in April 2019 - lowered to 17.5%, in July 2019 - lowered to 17.0%, and in September 2019 - lowered to 16.5%.

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