You're reading: NBU notes improvement of situation with deposit outflow

 The outflow of deposits from banks in the country has slowed significantly, the deputy director of the general department for monetary and credit policy at the National Bank of Ukraine (NBU), Oleksandr Arseniuk, has said. "The situation on the monetary and credit market is still somewhat tense. Simultaneously, we are already seeing tangible signs of gradual stabilization. If we consider the period from the beginning of April, the rate of the outflow of individuals' deposits from the banking system is several times less than we observed in March," he said in a short video posted on the Web site of the NBU.

 According to him, net supply of foreign currency is observed on the foreign exchange market, while in March net demand was fixed.

In this regard, the official said that the NBU’s increasing the discount rate along with other measures would become an additional stabilizing factor on the monetary and credit market: it will facilitate the recovery of the banks’ resource base and positively influence the conjuncture of the currency market through reducing speculative pressure.

However, according to him, the political situation affects the situation with the currency exchange rate and inflation processes.

As reported, the NBU from April 15 raised the discount rate from 6.5% to 9.5% per annum.