Facebook Pinterest Tumblr
  • News
  • World
  • Politics
  • Sports
  • Entertainment
  • Technology
  • Healthcare
  • More
    • Lifestyle
    • Opinion
    • Automobiles
    • Markets
    • Economy
Search
Buna Times
Buna Times
  • News
  • World
  • Politics
  • Sports
  • Entertainment
  • Technology
  • Healthcare
  • More
    • Lifestyle
    • Opinion
    • Automobiles
    • Markets
    • Economy
HomeWorldThe National Bank of...
January 23, 2025

The National Bank of Ukraine increased the discount rate

By David
Facebook
Twitter
Pinterest
WhatsApp


    The Board of the National Bank of Ukraine decided to increase the discount rate to 14.5% per annum.

    The NBU press service reported this today, January 23.

    This decision is aimed at maintaining the stability of the foreign exchange market, keeping inflation expectations under control, reversing the inflation trend and gradually slowing inflation to 5%. Containing price pressures will likely require further strengthening of interest rate policy, it said.

    It is noted that in 2024, inflation was 12%; price pressure continued at the beginning of this year.

    In December 2024, inflation accelerated to 12% year on year, which exceeded the preliminary forecast of the NBU, the National Bank said. — According to NBU estimates, the acceleration of inflation continued in January.

    The NBU notes that the high growth rates of consumer prices were influenced by the following factors:

    • last year’s worst harvests;
    • further acceleration of core inflation (up to 10.7% y/y in December), in particular due to the rapid rise in prices for services (12.5% ​​y/y in December);
    • At the same time, in recent months, to a certain extent, price growth was restrained by the strengthening of the hryvnia against the euro, which is important for Ukrainian imports.

    However, expectations among financial analysts and banks remain relatively stable.

    Thanks to the exhaustion of temporary factors of price pressure and the NBU’s interest rate and exchange rate policy measures, inflation will slow down to 8.4% in 2025 and to 5% in 2026, the National Bank believes.

    However, the NBU predicts that in the first months of 2025, inflation will likely continue to rise due to the further influence of both temporary factors, in particular the effects of last year’s lower harvests, and fundamental ones, in particular pressure from business production costs.

    Inflation will reach its peak in the second quarter and will begin to decline from the middle of the year, the National Bank expects.

    Let us remind you that before this, the National Bank increased the discount rate in December 2024 – from 13.0% to 13.5% per annum.

    Source: Racurs

    David
    David

    I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.

    Related

    - A word from our sponsors -

    Most Popular

    NABU and SAP buying the court will shoot Chernishev

    Lukashenko brought the situation to the potato crisis in Belarus – the media

    Updated maps of battles from general staff: where most Russian federations are most stormy

    Putin called the confiscation of Russia’s possessions “Much -Benefit”

    • Tags
    • banking sector

    LEAVE A REPLY Cancel reply

    Please enter your comment!
    Please enter your name here
    You have entered an incorrect email address!
    Please enter your email address here

    Previous article
    More than 100 schools are mine in Hungary
    Next article
    Shooting of Ukrainian military personnel – The Office of the Prosecutor General began an investigation

    More from Author

    World

    NABU and SAP buying the court will shoot Chernishev

    NABU and SAP were sent to the...
    David -
    Economy

    Lukashenko brought the situation to the potato crisis in Belarus – the media

    Liza -
    World

    Updated maps of battles from general staff: where most Russian federations are most stormy

    David -
    World

    Putin called the confiscation of Russia’s possessions “Much -Benefit”

    David -

    - A word from our sponsors -

    Read Now

    NABU and SAP buying the court will shoot Chernishev

    NABU and SAP were sent to the Supreme Anti-Corruption Court with a motion to submit an application to the current Deputy Prime Minister of Ukraine Alexei Chernishov, who previously held the position of Minister of Development of Communities and Territories of Ukraine, which...

    Lukashenko brought the situation to the potato crisis in Belarus – the media

    Updated maps of battles from general staff: where most Russian federations are most stormy

    Putin called the confiscation of Russia’s possessions “Much -Benefit”

    Results 26.06: Large Exchange and Tribunal for the Russian Federation

    Iran called damage to nuclear facilities “big -scale and serious”

    Russia deliberately attacks civilian drones – the UN

    New suspicions of cases of assignment of Ministry of Defense funds have been passed

    US Congress limits access to intelligence due to leakage about Iran – Media

    The largest import of Ukraine agricultural products in EU countries are known

    Iran has announced the cessation of cooperation with IAE

    The United States has signed a trade agreement with China – Trump

    Buna Time
    • DMCA
    • Privacy Policy
    • Terms of Use
    • Contact Us
    • Advertising and Outreach

    All Rights Reserved © 2023 - Buna Times