2022-12-08T15:42:00+02:00 Economy 2024-09-15T06:09:11+03:00

Ukrainian news

NBU Retains Discount Rate At 25%

NBU Retains Discount Rate At 25%

The National Bank of Ukraine (NBU) has retained the discount rate at the level of 25%.

The NBU has said this in a statement, Ukrainian News Agency reports.

It is reported that the growth of consumer prices in Ukraine, at the end of October, accelerated to 26.6% in annual terms.

According to preliminary estimates of the NBU, in November inflation further increased, but at a lower rate than expected in the October forecast (October 2022 inflation report).

The main factors of inflation acceleration remain the consequences of hostilities and occupation of certain regions of Ukraine, which primarily affects the increase in business production costs and leads to a shortage of individual products.

Thus, the strengthening of Russian terrorist attacks against the critical infrastructure of Ukraine, in particular energy facilities, complicates economic activity in various sectors - from metallurgy to the food industry, animal husbandry and the service sector.

In particular, in recent months, the costs of enterprises to maintain uninterrupted operation in the context of periodic power outages have increased significantly.

In addition, its shortage leads to a reduction in production and, accordingly, the supply of goods.

Rising demand for fuel in the face of regular outages is putting additional pressure on energy costs.

All these factors cause the rise in price of a wide range of goods and services, and in certain positions - a significant increase in prices.

As Ukrainian News Agency earlier reported, on October 28, 2016, the NBU reduced the discount rate from 15% to 14%, and in December 2016 and January 2017 it kept it at the level of 14%, in April 2017 it reduced it to 13%, in May 2017 it reduced it to 12.5%, in October - increased to 13.5%, in December 2017 - to 14.5%, in January - to 16%, in March 2018 - to 17%, in July 2018 - to 17.5%, in September 2018 - to 18%, in April 2019 - reduced to 17.5%, in July 2019 - to 17%, in September 2019 - to 16.5%, in October 2019 - to 15.5%, in December 2019 - to 13.5%, in January 2020 - to 11%, in March - to 10%, in April - to 8%, in June - to 6%, in March 2021 - increased to 6.5%, in April 2021 - to 7.5%, in July - to 8%, in September - to 8.5%, in December - to 9%, in January 2022 - by 1 p.p. to 10%, in June 2022 - by 15 p.p. to 25%.