The National Bank of Ukraine (NBU) has decided to keep the refinancing rate unchanged at 14% per annum after it was reduced for six months in a row, the NBU told UNIAN.
”The Board of the National Bank of Ukraine has decided to keep the refinancing rate unchanged at 14% per annum,” reads a statement by the regulator.
According to the NBU, the decision is due to the need to neutralize the inflationary risks in order to achieve the objectives for inflation in 2017-2018.
As UNIAN reported earlier, the National Bank of Ukraine decided to reduce the refinancing rate by 1 percentage point, or down to 14% per annum from October 28.
The maximum discount rate at 30% per annum was in force from March 4 to August 28 2015.
Inflation in October 2016 accelerated from 7.9% recorded the previous month to 12.4% y-o-y, surpassing the target of the National Bank of Ukraine of 12% set for year-end.
The National Bank of Ukraine predicts consumer inflation in Ukraine at the end of 2016 at the level of 12% +/- 3 percentage points.