“The inflation rate in 2024 reached 12%.”, — write: www.unian.ua
The inflation rate in 2024 reached 12%.
Containment of price pressure will likely require further tightening of interest rate policy / photo UNIANThe Board of the National Bank of Ukraine decided to increase the discount rate by 1% to 14.5%. This was stated by the Chairman of the National Bank of Ukraine Andriy Pishnyi at the briefing.“This decision is aimed at maintaining the stability of the currency market, keeping inflationary expectations under control, reversing the inflationary trend and gradually slowing inflation to the 5% target. Curbing price pressure will probably require further strengthening of the interest rate policy,” said the head of the NBU.
According to him, inflation reached 12% in 2024, and price pressure will remain at the beginning of 2025.
“According to the NBU’s estimates, the acceleration of inflation continued in January as well. The high rates of growth in consumer prices were largely determined by temporary factors. At the same time, the fundamental price pressure also intensified,” Pyshniy added.
Accounting rate in Ukraine – what is known In June 2024, the NBU board reduced the discount rate from 13.5% to 13%. At that time, this decision was made taking into account subdued inflation indicators, continued improvement in inflation expectations and the balance of risks for further inflationary dynamics.
On October 31, the board of the National Bank decided to leave the discount rate at the level of 13%. This was expected to keep inflation expectations under control, slow down inflation next year and bring it back to the 5% target.
On December 12, the board of the National Bank increased the discount rate to 13.5% per annum. This decision was aimed at preserving the stability of the foreign exchange market, keeping inflationary expectations under control and gradually slowing down inflation to the 5% target.
You may also be interested in news:
- How much will 100 dollars cost in Ukraine by January 26: banker’s forecast
- A forecast of the dollar exchange rate in Ukraine in the coming days has appeared
- Sell or buy currency now: experts gave advice to Ukrainians