The monetary policy committee of the National Bank of Ukraine (NBU) after a meeting on May 27-28 decided to recommend that the NBU board keeps the current refinancing rate at 30%, according to the regulator's website.
“Given the need to support stabilization processes in the monetary and credit market, the committee members agreed on the need to retain the rate at 30 percent,” reads a statement issued by the central bank.
According to the committee, this rate will contribute to the formation of the downward trend in inflation, and stimulate the return of deposits to the banking system.
During the meeting it was noted that consumer inflation acceleration to 60.9 percent in April in annual terms was due to the increase in tariffs for housing and utilities services and natural gas, as well as the methodological features to fix such an increase by the State Statistics Service.
