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National Bank of Ukraine retains key rate at 13%

According to the regulator, inflation resumed growth in May, accelerated to 4.8% year-on-year in June and is expected to accelerate to 8.5% by the end of the year

MOSCOW, July 25. /TASS/. The Board of the National Bank of Ukraine has decided to keep the key rate at 13%.

The regulator said in its Telegram channel, "This decision takes into account the need to ensure the stability of the foreign exchange market and bring inflation closer to the target of 5% over the forecast horizon."

According to the regulator, inflation resumed growth in May, accelerated to 4.8% year-on-year in June and is expected to accelerate to 8.5% by the end of the year.

The National Bank of Ukraine set the rate at 13% on June 13, reducing it by 0.5 percentage points. In April, the rate was lowered by 1 percentage point. These decisions were then explained by the slowdown in inflation and assistance from Ukraine's international partners.

On June 2, the National Bank of Ukraine raised the discount rate by 15 percentage points at once - from 10% to 25%, and then kept it at this level for more than a year. On July 27 last year the regulator reduced the rate from 25% to 22% and then gradually lowered it.

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