The National Bank of Ukraine raised its benchmark policy rate by 50bps to 15.5% in it July 2026 decision, its first rate hike in 16 months. The Board of the central bank stated that underlying inflationary pressures have risen in recent months and are likely to lift the headline inflation rate until the end of the year, warranting higher borrowing costs. The Board also noted that higher rates will increase the attractiveness of hryvnia-denominated assets and prevent higher levels of capital flight from households and businesses domestically. The NBU estimated that inflation could rise to the 10% level by the end of the year from the current 7.2% reading in June, before easing by next year. Meanwhile, expanded fiscal stimulus is expected to support economic growth, although inflationary responses are unlikely due to the impact of the Russian military attacks on aggregate demand. source: National Bank of Ukraine

The benchmark interest rate in Ukraine was last recorded at 15.50 percent. Interest Rate in Ukraine averaged 33.75 percent from 1992 until 2026, reaching an all time high of 300.00 percent in October of 1994 and a record low of 6.00 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 July of 2026.

The benchmark interest rate in Ukraine was last recorded at 15.50 percent. Interest Rate in Ukraine is expected to be 15.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ukraine Interest Rate is projected to trend around 14.75 percent in 2027 and 14.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-30 11:00 AM Interest Rate Decision 15% 15% 15%
2026-06-18 11:00 AM Interest Rate Decision 15% 15% 15.0%
2026-07-30 11:00 AM Interest Rate Decision 15.5% 15% 15.0%
2026-09-17 11:00 AM Interest Rate Decision 15.5% 15.5%
2026-10-29 11:00 AM Interest Rate Decision
2026-12-17 11:00 AM Interest Rate Decision


Related Last Previous Unit Reference
Banks Balance Sheet 4340356.00 4323202.00 UAH Million Jun 2026
Central Bank Balance Sheet 3431795.00 2970275.00 UAH Million Jun 2026
Foreign Exchange Reserves 51269.27 45726.56 USD Million Jun 2026
Interest Rate 15.50 15.00 percent Jul 2026
Loans to Private Sector 762470.15 756373.78 UAH Million Jun 2026
Money Supply M0 914410.00 912347.00 UAH Million Jun 2026
Money Supply M1 2574746.00 2538472.00 UAH Million Jun 2026
Money Supply M2 4139194.00 4096879.00 UAH Million Jun 2026
Money Supply M3 4139259.00 4096918.00 UAH Million Jun 2026


Ukraine Interest Rate
In Ukraine, interest rate decisions are taken by the National Bank of Ukraine. The official interest rate is the discount rate.
Actual Previous Highest Lowest Dates Unit Frequency
15.50 15.00 300.00 6.00 1992 - 2026 percent Daily

News Stream
Ukraine Raises Interest Rate by 50bps
The National Bank of Ukraine raised its benchmark policy rate by 50bps to 15.5% in it July 2026 decision, its first rate hike in 16 months. The Board of the central bank stated that underlying inflationary pressures have risen in recent months and are likely to lift the headline inflation rate until the end of the year, warranting higher borrowing costs. The Board also noted that higher rates will increase the attractiveness of hryvnia-denominated assets and prevent higher levels of capital flight from households and businesses domestically. The NBU estimated that inflation could rise to the 10% level by the end of the year from the current 7.2% reading in June, before easing by next year. Meanwhile, expanded fiscal stimulus is expected to support economic growth, although inflationary responses are unlikely due to the impact of the Russian military attacks on aggregate demand.
2026-07-30
Ukraine Holds Policy Rate at 15%
The National Bank of Ukraine maintained its benchmark policy rate at 15% in its June 2026 meeting, a third consecutive hold since the 50bps rate cut at the start of the year. The central bank noted that the current levels of interest rates ensured a sufficiently tight monetary backdrop for the Ukrainian economy and was high enough to stimulate demand for hryvnia denominated fixed income. Still, the NBU delivered a hawkish outlook by noting it is ready to raise interest rates should it see that higher energy prices from the war in the Middle East are becoming entrenched in core sectors of the price basket. Consumer inflation slowed to 8.2% in May but core inflation rose to 7.9%, both above forecasts from the central bank. The NBU expects inflation to remain steady in the coming months and rise at the end of the year, before dropping in 2027.
2026-06-18
Ukraine Holds Interest Rate at 15%
The National Bank of Ukraine maintained its benchmark policy rate at 15% in its March 2026 meeting after delivering a 50bps cut in its first decision of the year. The hold contrasted with the earlier possibility that the central bank would attend to growth concerns and the labor market and continue to make monetary policy more accommodative. However, the outbreak of war in the Middle East and its risk on global energy supplies triggered surges in key energy prices, raising inflationary risks for the Ukrainian economy. Further, the geopolitical concerns lifted global demand for the dollar and pressured the hryvnia, further limiting the room for lower borrowing costs. Inflation had increased to 7.6% in February after a long period of decreases. The central bank signaled that it will refrain from resuming rate cuts until there is clear evidence that energy prices are not translating to unanchored inflation expectations.
2026-03-19