“The National Bank of Ukraine believes that the government will be able to raise approximately UAH 216 billion thanks to changes in the reserve policy. ”, — write: www.epravda.com.ua
The National Bank of Ukraine believes that the government will be able to raise approximately UAH 216 billion thanks to changes in the reserve policy.
This became known from the briefing on the decision of the Board on monetary policy.
From October 11, 2024, the National Bank of Ukraine will increase the mandatory reserve requirements by 5%. p. (with the exception of regulations for term deposits of natural persons in hryvnia for a period of 93 calendar days or more).
In addition, from the same date, the NBU will increase to 60% the share of required reserves that banks can cover at the expense of the benchmark OVDP.
According to the NBU, these steps will not create risks for the stability of the foreign exchange market and the return of inflation to the target on the policy horizon.
“Instead, the combination of these measures will increase the flexibility of banks in managing their own liquidity and will stimulate additional demand for OVDP, which will strengthen the government’s ability to attract the necessary amounts of financing on the domestic debt market,” the NBU noted.
We will remind:
Board of the National Bank approved the decision to keep the discount rate at the current level of 13%.
The decision to keep the key rate at 13% in September is aimed at maintaining interest in hryvnia savings and curbing demand on the foreign exchange market.
At the same time, from September 20, 2024, rates on three-month certificates of deposit will be reduced to 15.5%. Interest rates on refinancing loans are also reduced – up to 16%, and the maximum term of their provision is limited to 14 days.