2020-01-30T19:03:00+02:00 Economy 2024-09-15T10:02:54+03:00

Ukrainian news

NBU Lowers Discount Rate From 13.5% To 11%

NBU Lowers Discount Rate From 13.5% To 11%

The National Bank of Ukraine (NBU) lowered the discount rate from 13.5% to 11%.

This is stated in the NBU report on the results of the meeting of the monetary committee, Ukrainian News Agency reports.

In 2019, consumer inflation slowed to 4.1% (from 9.8% in 2018), the lowest level in six years.

The National Bank achieved the medium-term inflation target of 5% ± 1 p.p., which it has declared since 2015, even faster than expected.

The strengthening of the hryvnia had a decisive influence on the rapid deceleration of inflation in late 2019, offsetting the effects of a fairly strong consumer demand.

As Ukrainian News Agency earlier reported, since March 4, 2015, the NBU has raised the discount rate from 19.5% to 30%.

Later, the central bank retained the discount rate at the level of 30% several times.

On August 28, 2015, the central bank lowered the discount rate to 27%, and on September 25, 2015 - to 22%.

Since April 22, 2016, the National Bank lowered the discount rate from 22% to 19%, on May 27, 2016 - from 19% to 18%, on June 24 - from 18% to 16.5%.

On July 29, 2016, the National Bank lowered its discount rate from 16.5% to 15.5%, from September 16, 2016 - from 15.5% to 15%.

On October 28, 2016, NBU lowered discount rate from 15% to 14%, and in December 2016 and January 2017 - retained at 14%, in April 2017 - lowered to 13%, in May 2017 - lowered to 12.5% in October - raised to 13.5%, in December 2017 - raised to 14.5%, in January - raised to 16%, in March 2018 - raised to 17%, in July 2018 - raised to 17.5%, in September - raised to 18%, in April 2019 - lowered to 17.5%, in July 2019 - lowered to 17.0%, in September 2019 - lowered to 16.5%, in October 2019 – lowered to 15.5%, and in December 2019 – lowered to 13.5%.