The national Bank raised the discount rate from 16% to 17% since March 2.
The national Bank of Ukraine (NBU) may go for another rate hike in September in the event of an increase of the probability of inflation risks.
This was reported in the July minutes of the Committee meeting of the monetary policy of the regulator.
“In case of further strengthening of inflationary risks, the national Bank will have enough time to react with interest rates in September,” the document says.
Recall that the national Bank raised the discount rate from 16% to 17% since March 2.
It was the fourth rate hike. Thus, the NBU increased discount rate from 12.5% to 13.5% per annum 27 October 2017, and then to 14.5% per annum from December 15, 2017 and up to 16% per annum from January 26, 2018.
The last time the discount rate was lowered in may 2017, – up to 12.5% from 13% per annum.
In April 2018, the Board of the national Bank decided to leave interest rates unchanged at 17% per annum.
21 July, the NBU increased the discount rate by 0.5 percentage points (PP) to 17.5% to bring inflation to the target range in 2019.
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