“The Board of the National Bank of Ukraine (NBU) has decided to raise the discount rate from 14.5% to 15.5% per annum, starting on March 7. This decision was made in response to inflation growth and meet the expectations of the market and the NBU forecast announced in January. With the increase in the discount rate, rates on deposit certificates and loans were changed. The Overnait Deposit Bet”, – WRITE ON: ua.news
The Board of the National Bank of Ukraine (NBU) has decided to raise the discount rate from 14.5% to 15.5% per annum, starting on March 7.
This decision was made in response to inflation growth and meet the expectations of the market and the NBU forecast announced in January.
With the increase in the discount rate, rates on deposit certificates and loans were changed. Overnait deposits have increased to 15.5%, three months of deposit certificates – up to 18%, and the refinancing rate of overnight – up to 18.5%.
The National Bank notes that although some pro -inflationary factors remain that inflation will decrease to 5% in the medium term. However, in case of further increase in inflation risks, the NBU is ready for additional intensification of monetary policy.
Inflation is projected to continue to grow due to the influence of low yields and increased production costs, but in the second half of the year, after the collection of new crops, food prices can be stabilized. The NBU expects inflation to a clear level by the end of the year.
The main risk to the economic situation will remain the course of war, which also affects the inflationary forecasts and economic development of Ukraine.
Earlier, we wrote that the National Bank of Ukraine issued a permission of the ROZETKAPAY payment service to open accounts for individuals and legal entities. This will allow the service to expand the range of services it provides in the Rozetka ecosystem.
Ukraine’s economy retains stability, but GDP growth will slow down through war and inflation. Inflation reached 12.9%, which led to an increase in the NBU discount rate.
