“The Board of the National Bank decided to keep the discount rate at the current level of 13%.”, — write: www.epravda.com.ua
The Board of the National Bank decided to keep the discount rate at the current level of 13%.
This became known from the briefing on the decision of the Board on monetary policy.
As noted in the NBU, 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, the board of the NBU made a decision to modify the parameters of other monetary policy instruments and operations.
Thus, from September 20, 2024, rates on three-month deposit certificates 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.
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 goal on the policy horizon. Instead, the combination of these measures will increase banks’ flexibility in managing their own liquidity and stimulate additional demand for OVDP to strengthen the government’s ability to raise the necessary volumes of financing in the domestic debt market.