National Bank of Ukraine

National Bank of Ukraine

May 24, 2018

Ukraine’s policy interest rate was lifted four times within a half year: 100 basis points last October, December and March and by 15o bps in January. In a statement after keep the rate steady at 17.0%, the central bank board underlines that its belief that policy is now sufficiently tight to achieve the medium-term target […] More

National Bank of Ukraine Decides Policy Now Sufficiently Tight

April 12, 2018

From last October to the start of March, Ukraine’s policy interest rate was increased 450 basis points to 17.0% in just four incremental moves. That tightening abruptly reversed a prolonged easing stance, the last element of which was a 50-bp cut last May. The reason for this reversal was a rise of inflation to well […] More

National Bank of Ukraine

March 1, 2018

A fourth sharp central bank interest rate hike since late October was been engineered in Ukraine. It’s size like the one last October 26th and a second move in mid-December was by 100 basis points. The third hike of this cycle was by 150 basis points and came on January 25th. Ukraine’s policy interest rate […] More

National Bank of Ukraine

December 15, 2017

Ukraine’s central bank interest rate was raised by another full percentage point to 14.5% just seven weeks after an initial increase of 100 basis points. As in Mexico, inflation has been higher than assumed previously, and a number of price risks continue such as rising food prices, more fiscal deficit spending, some wage pressure, higher […] More

Trend Change in National Bank of Ukraine’s Policy Rate

October 26, 2017

Ukraine’s main central bank interest rate had been cut from 30% in August 2015 to 12.5% after a final cut made in May of this year, but officials at the latest policy review concluded that deterioration in actual inflation and price expectations now necessitated a full percentage point rate hike to 13.5%. CPI inflation was […] More

National Bank of Ukraine

September 14, 2017

From August 2015 through May of this year, a nine-step series of rate reductions slashed Ukraine’s policy interest rate from 30% to 12.5%. That level now lies below headline CPI inflation of 16.2%, which lately has crept higher. Core inflation also has climbed, but expected inflation has stayed pretty stable, helped by a firmer hryvnia. […] More

National Bank of Ukraine

August 3, 2017

From 30% two years ago, Ukraine’s key interest rate was reduced in a series of cuts by more than half to 14% in October 2016. It stayed at that level for a half year but was reduced 100 basis points this past April and a further 50 bps in May. The latest policy review, like […] More

National Bank of Ukraine

March 2, 2017

Ukraine’s key policy interest rate will remain at 14.0%. Monetary officials released a statement after making that decision that concedes that risks of greater inflation have become greater since their previous policy review on January 26, which also did not change the rate. Inflation accelerated to 12.6% in January and likely will climb further in February. […] More

National Bank of Ukraine

January 26, 2017

The Ukrainian central bank interest rate was left unchanged at 14%. The same action was taken at the prior policy meeting in early December. A sharp decline of CPI inflation from 43.3% in 2015 to 12.4% last year had enabled officials to lower the interest rate from 30% in at the start of August 2015 […] More

National Bank of Ukraine

December 8, 2016

Ukraine’s central bank interest rate had been ratcheted up to as high as 30% last year to counter exchange rate depreciation and the inflation such causes. Once stabilization had been secured, such was slashed by 3 percentage points (ppts), 5 ppts and 4 ppts in August and September 2015, and May of this year. Four […] More

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