2024-04-25T18:00:00+03:00 Economy 2024-09-15T04:28:09+03:00

Ukrainian news

NBU lowers discount rate by 1 pp to 13.5%

NBU lowers discount rate by 1 pp to 13.5%

The Board of the National Bank of Ukraine (NBU) has decided to reduce the discount rate by 1 percentage point to 13.5%.

This is stated in the message of the NBU, Ukrainian News Agency reports.

The NBU sees some room for further softening of the interest rate policy, provided that favorable macro-financial trends are maintained.

The basic scenario of the NBU forecast foresees a reduction of the discount rate to 13% in the current year.

Such softening of the interest policy and the planned steps on currency liberalization should not create additional threats to macro-financial stability and stability of the currency market.

The NBU will adapt the monetary policy in case of significant changes in the balance of risks.

Thus, reducing the risks to inflation and exchange rate stability can create prerequisites for additional steps to reduce the discount rate and ease currency restrictions, which will support credit development and economic recovery.

As Ukrainian News Agency earlier reported, in March 2021, the NBU raised the discount rate to 6.5%, in April - to 7%, in July - to 8%, in September - to 8.5%, in December - to 9%, in January 2022 - to 10%, in June 2022 - to 25%.

In July 2023, the NBU reduced the discount rate from 25% to 22%, in September - to 20%, in October - to 16%, and in December - to 15%, and in March 2024 - to 14.5%.