The National Bank of Ukraine raised its key policy rate by 100bps to 7.5% on April 15th 2021, surprising markets that expected a hike of 50bps and pushing borrowing costs to the highest since May 2020. The decision is aimed at gradually slowing down inflation in the second half of 2021 and its return to 5% in the first half of 2022. Considering the fast-paced recovery of the global economy and higher inflationary pressures, the NBU revised its inflation forecast from 7% to 8% in 2021, expecting inflation to return to the 5% target in H1 2022 and settle at this level further on. Also, the NBU revised downward its real GDP growth forecast for 2021, from 4.2% to 3.8%. The NBU stands ready to continue raising its key policy rate to a level that will bring inflation back to its 5% target in the first half of 2022. source: National Bank of Ukraine

Interest Rate in Ukraine averaged 36.90 percent from 1992 until 2021, reaching an all time high of 300 percent in October of 1994 and a record low of 6 percent in June of 2020. This page provides the latest reported value for - Ukraine Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ukraine Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.

Interest Rate in Ukraine is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Ukraine to stand at 8.00 in 12 months time. In the long-term, the Ukraine Interest Rate is projected to trend around 8.50 percent in 2022 and 9.00 percent in 2023, according to our econometric models.

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Ukraine Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.50 6.50 300.00 6.00 1992 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-12-10 12:00 PM 6% 6% 6% 6%
2021-01-21 12:00 PM 6% 6% 6% 6%
2021-03-04 12:00 PM 6.5% 6% 6% 6%
2021-04-15 11:00 AM 7.5% 6.5% 7% 7%
2021-06-17 11:00 AM 7.5%
2021-07-22 11:00 AM
2021-09-09 11:00 AM
2021-10-21 11:00 AM


News Stream
Ukraine Hikes Policy Rate to 7.5%
The National Bank of Ukraine raised its key policy rate by 100bps to 7.5% on April 15th 2021, surprising markets that expected a hike of 50bps and pushing borrowing costs to the highest since May 2020. The decision is aimed at gradually slowing down inflation in the second half of 2021 and its return to 5% in the first half of 2022. Considering the fast-paced recovery of the global economy and higher inflationary pressures, the NBU revised its inflation forecast from 7% to 8% in 2021, expecting inflation to return to the 5% target in H1 2022 and settle at this level further on. Also, the NBU revised downward its real GDP growth forecast for 2021, from 4.2% to 3.8%. The NBU stands ready to continue raising its key policy rate to a level that will bring inflation back to its 5% target in the first half of 2022.
2021-04-15
Ukraine Unexpectedly Hikes Key Interest Rate to 6.5%
The National Bank of Ukraine raised its key policy rate by 50bps to 6.5 percent on March 4th 2021, surprising markets that expected no changes. The decision is aimed at gradually reducing inflation to its target, as the Ukrainian and global economies are recovering. The annual inflation rate accelerated to a 15-month high of 6.1 percent in January, mostly due to food and fuel prices and above the central bank’s medium-term inflation target of 5 percent. Policymakers expect inflation to reach its peak in mid-2021, but decelerate afterwards, returning to its target range in H1 2022. Finally, the NBU said it stands ready to raise its key policy rate more resolutely in order to curb fundamental inflationary pressures, stabilize expectations, and bring inflation back to its target.
2021-03-04
Ukraine Key Rate Stays at 6%
The National Bank of Ukraine held its benchmark interest rate at a record low of 6 percent during its January meeting, in a commitment to support the economy hit by the coronavirus crisis as well as maintain inflation within target. The country's annual inflation rate accelerated to 5 percent in December, thus reaching the central bank's mid-point target of 5 percent. Policymakers revised the inflation rate to 7 percent in 2021 from 6.5 percent, followed by a comeback to the target point in the following year.
2021-01-21
National Bank of Ukraine Holds Policy Rate at 6%
The National Bank of Ukraine held its benchmark interest rate at a record low of 6 percent during its December meeting, in an attempt to support the economy hit by the coronavirus crisis as well as ensure price stability. The country's annual inflation rate jumped to 3.8 percent in November, the highest since December 2019 but below the central bank's mid-point target of 5 percent. Policymakers expect inflation to enter the target range of 5%+/-1 pp by the end of the year.
2020-12-10

Ukraine Interest Rate
In Ukraine, interest rate decisions are taken by the National Bank of Ukraine. The official interest rate is the discount rate.