The NBU raised the key policy rate for the third consecutive time under inflationary pressure — to 16.5%
Kyiv • UNN
The NBU raised the key policy rate to 16.5% due to increased price pressures and inflation expectations. The rate is planned to be maintained until the second quarter of 2027.
The National Bank of Ukraine raised its key policy rate for the third consecutive time—this time to 16.5% from 16.0%. The NBU reported this on October 29, UNN writes.
The Board of the National Bank of Ukraine decided to raise the key policy rate to 16.5% in view of a significant strengthening of price pressures and a deterioration in inflation expectations
The NBU explained that this decision should support the "attractiveness of hryvnia assets and the resilience of the foreign exchange market, which will make it possible to maintain control over inflation expectations and price dynamics".
The NBU's forecast envisages keeping the key policy rate at its current level until the second quarter of 2027.
"At the same time, the NBU will respond flexibly to actual developments, taking into account the impact of Russian attacks on inflation dynamics and economic activity," the regulator emphasized.
The NBU stated that it was ready to respond flexibly to further changes in the distribution of risks, "taking into account both the persistence of price pressures and the likely effects of weakening economic activity."
Supplement
The NBU began a cycle of raising the key policy rate in July 2026—from 15% in June through three decisions, each time by 0.5 percentage points.