Key rate hiked to 30% in Ukraine to stop currency slump

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National Bank of Ukraine

With headline inflation reaching 28.5% in January and the hryvnia's value dropping by more than a third since the start of the year, the National Bank of Ukraine hiked its key rate from 19.5% to 30% yesterday.

Besides the large increase, which puts the rate at its highest value for 15 years, the central bank's new monetary policy committee (MPC) announced a set of additional measures "to curb the devaluation pressure on the hryvnia, lessen the monetary market stress and mitigate risks for price

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