The NBU's Discount Rate Remains Unchanged: What This Means for Prices and Loans

The National Bank of Ukraine left the discount rate at 15.5%, which indicates that significant changes in interest rates and inflation are not expected in the near future. This was stated in an exclusive comment to UNN by the chairman of the Committee of Economists of Ukraine, Andriy Novak.

Details 

Today, the National Bank of Ukraine left the discount rate at 15.5%, which means that, in principle, there will be no significant changes in interest rates and the inflation rate in the near future.

According to him, the main factors that influenced inflation in the country were formed in the summer of last year. Among them are the doubling of electricity tariffs, the increase in excise taxes on fuel and the increase in taxes.

"These three main factors influenced the increase in inflation rates, and today there are no other significant factors that would affect inflation. The hryvnia exchange rate is now, as we can see, relatively stable, so the exchange rate also has a minimal impact on inflation, and we can say that it has practically no impact," the economist explained.

"Therefore, if these three main factors do not change, namely electricity tariffs, as well as gas, fuel excise taxes and taxes, if there are no changes in these areas, then the inflation rate will be at the current level," Novak added.

Exchange rate on April 17: hryvnia devalues17.04.25, 08:59 • 3482 views

Let us remind 

Earlier, UNN wrote that the National Bank of Ukraine kept the discount rate at 15.5%. The NBU expects that this "will help maintain the stability of the foreign exchange market, maintain control over inflation expectations and gradually slow down inflation to the target of 5% in the policy horizon".