Ukraine hikes rates as fears grow of spiralling inflation

Overnight rate doubled while the discount rate put on 300bp

stepan-kubiv
NBU governor Stepan Kubiv

Ukraine's central bank last night moved to shore up the value of the country's currency by raising its benchmark interest rate from 6.5% to 9.5%, in the hope of attracting more deposits and having a "positive impact on Ukraine's foreign exchange market conditions".

The hike in the discount rate is effective from today, and follows March inflation data of 3.4% annualised – versus 1.2% in February. The interest rate on overnight loans provided by the National Bank of Ukraine (NBU) against

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.