“NBU raised the discount rate to 14.5%: for what purpose did the National Bank of Ukraine raise the discount rate to 14.5% per annum, which is 1% more than the previous one. The decision is aimed at supporting the foreign exchange market and controlling inflation to the target of 5%.”, — write on: unn.ua
Details
“The Board of the National Bank of Ukraine has decided to increase the discount rate to 14.5% per annum. This decision is aimed at maintaining the stability of the currency market, keeping inflationary expectations under control, reversing the inflationary trend and gradually slowing down inflation to the 5% target. Restraining price pressure is likely to will require further strengthening of the interest rate policy,” said NBU Chairman Andriy Pishnyi.
We will remind
Last year, the National Bank of Ukraine raised the discount rate to 13.5% arguing that this decision should preserve the stability of the foreign exchange market, keep inflationary expectations under control and gradually slow down inflation to the 5% target.