Ukraine Monetary Policy August 2017


Ukraine: Central Bank holds key policy rate unchanged

August 3, 2017

The National Bank of Ukraine (NBU) decided to hold the key policy rate at 12.50% at its 3 August monetary policy meeting. The decision follows a pause in the Bank’s loosening cycle in July.

The move was driven by a need to keep price pressures in check after a rise in inflation in recent months. The NBU noted in its accompanying statement, that risks to its July inflation projection have risen and a tight monetary policy is needed to help anchor expectations.

Looking forward, the Bank stressed that a continuation of its easing cycle would depend on the trajectory of inflation and that the Bank may need to maintain a pause in its easing cycle to bring inflation to target. The next policy meeting is scheduled for 14 September 2017.

FocusEconomics Consensus Forecast panelists expect the NBU’s key policy rate to end the year at 11.50%. For 2018, panelists expect the key policy rate to fall to 9.38%.

Author: Angela Bouzanis, Senior Economist

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Ukraine Monetary Policy Chart

Ukraine Monetary Policy August 2017 0

Note: NBU key policy rate in %.
Source: National Bank of Ukraine (NBU).

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