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Economy 2020-04-03T04:03:21+03:00
Ukrainian news
NBU Lowers Discount Rate From 11% To 10%

NBU Lowers Discount Rate From 11% To 10%

NBU, discount rate, inflation

The National Bank has lowered the discount rate from 11% to 10%.

This is stated in the NBU report on the results of the meeting of the monetary committee, Ukrainian News Agency reports.

In January-February, consumer inflation slowed faster than the predicted trajectory assumed (up to 3.2% in January and 2.4% in February on an annualized basis), continuing to be below the target range of 5% +/- 1 pp.

Core inflation was also slightly below the forecast both months.

The rapid pace of inflation slowdown is due to the further reflection of last year's hryvnia appreciation in the cost of goods, a significant offer of most raw food products, and low energy prices.

These factors offset the effect of strong consumer demand, which was reinforced by the continued growth in real incomes.

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%, in September 2019 - lowered to 16.5%, in October 2019 – lowered to 15.5%, in December 2019 – lowered to 13.5%, and in January 2020 – lowered to 11%.

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