Ukraine opts to keep rates higher for longer
Central bank holds at 15.5% and says policy must remain “rather tight” if 5% inflation target is to be met
The National Bank of Ukraine (NBU) has held its key policy rate at 15.5% and said it would maintain “a rather tight monetary stance” until it felt inflation was heading towards its 5% target.
In a statement today (July 24), the central bank said headline inflation had begun to decline in June and reached 14.3% on a year-on-year basis, having peaked at 15.9% the previous month. Core inflation had declined somewhat faster than the NBU had been expecting and reached 12.1%.
However, the bank added
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