The National Bank of Ukraine hiked its policy rate by 15 percentage points to 25% during its June 2022 meeting after postponing its last two policy rate decisions due to Russia’s invasion. The NBU cited the purpose of its decision was to protect hryvnia savings, increase the attractiveness of hryvnia assets, reduce foreign exchange market pressures, and strengthen the bank’s ability to ensure exchange rate and consumer price stability during the war. Further, policymakers stated the hike would help prevent the dollarization of the Ukrainian economy in the absence of adequate remuneration for the maintenance of hryvnia assets, adding that a smaller increase would not have significant impact during times of war. In the meantime, the NBU expects that inflation should continue to increase in the coming months, although the tighter monetary setting and increasing supply from domestic producers should restrain the acceleration. Annual inflation accelerated to 16.4% during April. source: National Bank of Ukraine

Interest Rate in Ukraine averaged 35.95 percent from 1992 until 2022, 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 June of 2022.

Interest Rate in Ukraine is expected to be 25.00 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 15.00 percent in 2023 and 9.00 percent in 2024, according to our econometric models.

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Ukraine Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-03 12:00 PM 10% 10% 10%
2022-04-14 11:00 AM 10% 10% 10%
2022-06-02 11:00 AM 25% 10% 10%
2022-07-21 12:00 PM 25%
2022-09-08 12:00 PM
2022-10-20 12:00 PM


Related Last Previous Unit Reference
Interest Rate 25.00 10.00 percent Jun 2022
Interbank Rate 11.31 11.31 percent Jun 2022
Money Supply M1 1391157.00 1403404.00 UAH Million May 2022
Money Supply M0 634522.00 639401.00 UAH Million May 2022
Money Supply M2 2119563.00 2123886.00 UAH Million May 2022
Money Supply M3 2124232.00 2130451.00 UAH Million May 2022
Foreign Exchange Reserves 25100.00 26945.00 USD Million May 2022
Banks Balance Sheet 2364746.00 2376374.00 UAH Million Jan 2022
Loans to Private Sector 691895.43 689596.98 UAH Million Apr 2022
Central Bank Balance Sheet 1418310.83 1392985.00 UAH Million Dec 2021

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
25.00 10.00 300.00 6.00 1992 - 2022 percent Daily

News Stream
Ukraine Hikes Interest Rate to 25%
The National Bank of Ukraine hiked its policy rate by 15 percentage points to 25% during its June 2022 meeting after postponing its last two policy rate decisions due to Russia’s invasion. The NBU cited the purpose of its decision was to protect hryvnia savings, increase the attractiveness of hryvnia assets, reduce foreign exchange market pressures, and strengthen the bank’s ability to ensure exchange rate and consumer price stability during the war. Further, policymakers stated the hike would help prevent the dollarization of the Ukrainian economy in the absence of adequate remuneration for the maintenance of hryvnia assets, adding that a smaller increase would not have significant impact during times of war. In the meantime, the NBU expects that inflation should continue to increase in the coming months, although the tighter monetary setting and increasing supply from domestic producers should restrain the acceleration. Annual inflation accelerated to 16.4% during April.
2022-06-02
National Bank of Ukraine Postpones Interest Rate Decision
The National Bank of Ukraine decided to postpone the decision on the discount rate for the second consecutive meeting and left it unchanged at 10% on April 14th, 2022, given the large-scale armed assault in Ukraine by Russian forces. The bank said that due to the forced introductions of administrative restrictions, market monetary instruments do not play a significant role in the functioning of the monetary markets, while the bank confirmed foreign exchange rates continued to be fixed. Due to disruption of supply chains and production processes and uneven demand, the NBU estimates inflationary pressures will increase and could exceed 20% at year-end. Meanwhile, civilian casualties, destroyed infrastructure, and the outflow of over 4.7 million refugees led the central bank to estimate that the Ukrainian economy could contract by at least one-third in 2022.
2022-04-14
National Bank of Ukraine Postpones Interest Rate Decision
The National Bank of Ukraine decided to postpone the decision on the discount rate and leave it unchanged at 10% on March 3rd 2022, given the large-scale armed assault in Ukraine by Russian forces. The bank said that due to the forced introductions of administrative restrictions, market monetary instruments do not play a significant role in the functioning of the monetary and foreign exchange markets. The bank also said that once the economy and financial system return to operation, the National Bank shall return to the traditional format of inflation targeting with a floating exchange rate. Despite operating in martial law, the National Bank stated the country’s banking system remains stable and highly liquid. In its previous meeting in January, the board hiked the deposit rate by 100bps to counter inflationary pressure.
2022-03-03