Ukraine’s central bank goes back to 5% inflation target

National Bank of Ukraine governor Yakiv Smolii
NBU governor Yakiv Smolii
National Bank of Ukraine

The National Bank of Ukraine has reaffirmed its goal of reducing inflation to 5% by the end of 2019, after more than a year of being unable to meet its monetary policy targets.

On July 12, the NBU raised its policy rate by 50 basis points to 17.5%, saying it was necessary, despite falling headline and core inflation. Ukraine’s year-on-year inflation fell to 9.9% in June – the lowest figure for more than a year.

Four days later, on July 16, the central bank published a revised inflation

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