The National Bank of Ukraine has decided to keep the discount rate at 15.5%. This measure is important for supporting hryvnia instruments, the stability of the currency market, and controlling expectations in order to reduce inflation to the target level of 5%.
As of November, the situation with inflation has improved, decreasing to 9.3% annually, but expectations regarding inflation remain elevated. However, harvests and the measures of the NBU will continue to contribute to reducing inflation in the coming months.
International assistance of USD 45.8 billion came to Ukraine in 2021, and it is expected that by the end of the year this amount will increase by more than USD 5 billion. However, the situation with external financing for the future remains ambiguous.
"Maintaining the discount rate in October supported the attractiveness of hryvnia instruments. The volumes of investments in hryvnia deposits continue to grow, and a tight monetary policy does not hinder the development of lending," said the National Bank of Ukraine.
Despite the improvements, the risk of a full-scale war remains a serious threat to inflation and economic development. The NBU is ready to respond to any changes in risks that may affect inflation dynamics and take necessary measures to stabilize the situation.
The Ukrainian National Bank has decided to keep the discount rate at 15.5%, considering the importance of supporting hryvnia instruments, the stability of the currency market, and the goal of reducing the inflation of the national currency.