The National Bank of Ukraine kept its key policy rate at a seven-year-high of 25% during its July meeting, saying the decision to raise the rate in June will continue to push up market rates. Policymakers noted inflation soared, reaching 21.5% yoy in June, which was mainly the result of war-driven shocks and global price pressures. Looking ahead, the central bank expects inflation to exceed 30% yoy as of the end of 2022. It will slow considerably in the next years, albeit remaining much above the NBU’s target of 5%, primarily due to the consequences of the war. It said the economy of Ukraine will shrink by a third in 2022 but will return to growth in 2023–2024 if the Black Sea ports are unblocked. If required, the NBU stands ready to take additional measures to protect international reserves, improve monetary transmission, and rein in inflationary pressures. source: National Bank of Ukraine

Interest Rate in Ukraine averaged 35.93 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 August 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
2022-04-14 11:00 AM 10% 10% 10%
2022-06-02 11:00 AM 25% 10% 10%
2022-07-21 11:25 AM 25% 25% 25%
2022-09-08 12:00 PM 25% 25%
2022-10-20 12:00 PM
2022-12-08 12:00 PM


Related Last Previous Unit Reference
Interest Rate 25.00 25.00 percent Jul 2022
Interbank Rate 11.31 11.31 percent Aug 2022
Money Supply M1 1394975.00 1391157.00 UAH Million Jun 2022
Money Supply M0 629446.00 634522.00 UAH Million Jun 2022
Money Supply M2 2146170.00 2119563.00 UAH Million Jun 2022
Money Supply M3 2151551.00 2124232.00 UAH Million Jun 2022
Foreign Exchange Reserves 22385.38 22385.00 USD Million Jul 2022
Banks Balance Sheet 2364746.00 2376374.00 UAH Million Jan 2022
Loans to Private Sector 699792.02 703876.09 UAH Million Jun 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 25.00 300.00 6.00 1992 - 2022 percent Daily

News Stream
Ukraine Holds Interest Rate Steady at 25%
The National Bank of Ukraine kept its key policy rate at a seven-year-high of 25% during its July meeting, saying the decision to raise the rate in June will continue to push up market rates. Policymakers noted inflation soared, reaching 21.5% yoy in June, which was mainly the result of war-driven shocks and global price pressures. Looking ahead, the central bank expects inflation to exceed 30% yoy as of the end of 2022. It will slow considerably in the next years, albeit remaining much above the NBU’s target of 5%, primarily due to the consequences of the war. It said the economy of Ukraine will shrink by a third in 2022 but will return to growth in 2023–2024 if the Black Sea ports are unblocked. If required, the NBU stands ready to take additional measures to protect international reserves, improve monetary transmission, and rein in inflationary pressures.
2022-07-21
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