Ukrainian governor raises rates and warns government over IMF funding

The National Bank of Ukraine
Oksana Parafeniuk

The acting governor of Ukraine’s central bank has warned the country’s government that it needs to follow the International Monetary Fund’s programme, as the bank raised policy rates for the first time in 31 months.

The National Bank of Ukraine raised its policy rate, the discount rate, by 100 basis points to 12.5% on October 26. The NBU’s last hike was in March 2015.

In September, Ukraine’s year-on-year inflation rate reached its highest rate since March 2016, hitting 16.4%, up from 12.4% at

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