The NBU maintained the key policy rate at 15% to support the foreign exchange market and control inflation

The National Bank of Ukraine has kept the key policy rate at 15%, the NBU reported on April 30, UNN writes.

The Board of the National Bank of Ukraine has decided to maintain the key policy rate at 15% to support the attractiveness of hryvnia instruments, the stability of the foreign exchange market, and the controllability of inflation expectations amid increasing price pressures,

As the National Bank noted, "an appropriate level of monetary conditions will contribute to returning inflation to a trajectory of steady deceleration toward the 5% target over the policy horizon."

"In the event of increased risks to price dynamics, the NBU will be ready to apply additional measures to restrain inflationary pressure," the NBU indicated.

The NBU listed the key conclusions:

• after a long period of decline, inflation has begun to rise, primarily due to the increase in energy resource prices;
• inflation will return to a decline next year and reach the 5% target in 2028;
• moderate economic growth is expected this year, which will accelerate in the following years;
• external assistance will make it possible to finance the budget deficit and maintain international reserves at a high level, which will contribute to ensuring the stability of the foreign exchange market;
• the consequences of Russian aggression remain the main risk for inflation dynamics and economic development, however, the course of other geopolitical events, particularly in the Middle East, will also have a significant impact.

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