Date: 2 months ago   Category: Economy

The NBU the fourth time in a row kept a key interest rate at the level of 18% because of inflation


The board of National Bank sees opportunities for decrease in a rate in the future.

the Board of National bank at a meeting made on March 14 the decision to keep discount rate at the level of 18% in connection with inflationary risks.

is told About it on the website of the NBU.

In February, 2019 rates of inflation slowed down up to 8.8%. According to the NBU, it demonstrates that fundamental inflationary pressure is weakened.

However the board considers that risks for further decrease of the inflation rate remain.

For example, is planned increase in social payments and monetization of subsidies for payment of housing and communal services for the next months. "Though effects of these separate factors are insignificant, in total their influence can be notable if affects inflationary expectations in the conditions of strengthening of uncertainty in a year of double elections", - solved in the NBU.

Therefore the regulator the fourth time decided to keep a key interest rate at the level which was established in September, 2018, but indicated a possibility of its decrease in the future. Further dynamics of discount rate will be based on the updated macroeconomic forecast of National bank which will be published in April.

the Forecast of inflation for 2019 remains at the level of 6.3%. we Will remind

that the present level of discount rate became the highest since June, 2016. The absolute record - 300% - was recorded in 1994.

Discount rate of the NBU is a monetary tool by means of which the National Bank establishes for commercial banks a reference point at the cost of the attracted and placed monetary resources. Discount rate is the lowest among interest rates of the NBU and is the basic indicator for estimation of cost of money.

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