National Bank of Ukraine

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

National Bank of Ukraine

October 27, 2016

Ukraine’s key interest rate was cut by another full percentage point to 14.0%, bringing the cumulative drop since May to 800 basis points. If economic developments continue to evolve as monetary officials expect, more reductions will follow, according to a released statement.  Most importantly, total and core CPI inflation have been diminishing. Total inflation last […] More

National Bank of Ukraine

September 15, 2016

Citing the continuing “alleviation” of risks to price stability, Ukraine monetary officials cut their policy interest rate for the fourth time since May and the sixth time in thirteen months. The new policy rate of 15.0% is only half as much as the 30% level prior to a 300-basis point reduction in August 2015. Today’s […] More

National Bank of Ukraine

June 23, 2016

Ukraine’s central bank interest rate has been reduced by a further 150 basis points, bringing the cumulative decline to 13.5 percentage points from 30% prior to mid-August 2015.  According to a statement, an appreciating hryvnia moderate domestic demand have played an important role in cutting expected inflation and actual inflation to 7.5%, which is within […] More

Fourth Ukraine Central Bank Interest Rate Cut in Nine Months

May 26, 2016

The National Bank of Ukraine Board announced a one percentage point reduction in its key interest rate to 18%, which was smaller than cuts of 3 percentage points (ppts) in August 2015, 5 ppts in September 2015, and 3 ppts in April 2016.  A statement explaining today’s decision speaks of continuing disinflation due to the […] More

National Bank of Ukraine

April 21, 2016

Ukraine’s key monetary policy rate has been reduced by three percentage points to 19%.  This was the third cut in eight months, the earlier two being moves of three percentage points in August 2015 and five percentage points a month later.  A released statement cites diminishing upside inflation risks and also announces operational changes to […] More

Monetary Policy Tightened Sharply in Ukraine

March 4, 2015

The plunging hryvnia has lifted Ukraine inflation into double digits.  In response, officials at the National Bank of Ukraine had raised their discount rate a month ago from 14.0% to 19.5%, but that didn’t stem geopolitically-generated capital flight.  So even more draconian measures were unveiled in a statement released today.  The discount rate has been […] More

550-Basis Point Hike in Ukraine’s Central Bank Discount Rate

February 5, 2015

In addition to the increased key interest rate to 19.5% from 14.0% previously, monetary officials are “scrapping the practice of holding foreign exchange auctions (effective from February 5, 2015) and setting the indicative hryvnia exchange rate. The hryvnia exchange rate will be set by banks based on the objective parameters of market demand and supply.”  […] More

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