The national Bank again raised interest rates
The national Bank of Ukraine from February 26 will raise the discount rate to 16% per annum due to a significant acceleration of inflation during 2017.
This was stated by the press service of the NBU.
“The acceleration of inflation compared to the year 2016 (12.4%) was primarily due to the factors that the monetary policy tools have limited impact. In particular, inflation has been significantly affected by the reduction in the supply of certain types of food commodities due to adverse weather conditions in the first half of the year, the unstable situation in livestock production, increase in world prices and external demand for domestic food products”, – stated in the message.
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The NBU published the amount of Ukraine’s debt to the IMF
It is noted that the national Bank intends to return inflation to the target range until mid-2019. According to estimates of the NBU, the inflation rate in Ukraine will be substantially reduced during 2018-2020.
It is also noted that 2018 is expected to increase the country’s economic performance.
We will remind, last time the national Bank raised the discount rate in December. Then it was raised to 14.5% per annum. This was done due to the increase in inflation risks, including seasonal. Also, the NBU assured that Ukrainian national currency is not under threat.
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