The National Bank of Ukraine raised the discount rate from 13% to 13.5% per annum on December 12. This marks the first increase since July of last year, prompted by a surge in inflation.
This information was reported by the NBU press service.
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The NBU noted that inflation has been rising at a faster pace in recent months than predicted by the NBU forecast.
It is expected that inflation will decelerate in 2025 and will subsequently aim for the target of 5%, while the volumes of international financial assistance in 2025 will be sufficient for non-emission financing of the budget deficit and maintaining a stable situation in the currency market.
At the same time, the NBU indicated that the ongoing full-scale war remains a key risk for inflation dynamics and economic development.
“To maintain the stability of the currency market, prevent the imbalance of expectations, and gradually bring inflation to the target, the NBU Board has decided to raise the discount rate to 13.5%,” the statement added.
As a reminder, in September, the NBU decided to keep the discount rate at 13%. This was necessary for the stability of the currency market. In April, the National Bank lowered the discount rate from 14.5% to 13.5%, and in June of this year – to 13%.
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