NBU leaves key policy rate unchanged at 15%

The National Bank of Ukraine (NBU) has decided to keep its key policy rate at 15%.

NBU Governor Andriy Pyshnyy said this at a briefing on Thursday, according to an Ukrinform correspondent.

"The Board of the National Bank of Ukraine decided to keep its key policy rate at 15%," he said.

According to Pyshnyy, this decision is in line with the need to maintain exchange rate stability and moderate inflation in 2024.

As reported by Ukrinform, the National Bank of Ukraine raised its key policy rate to 10% in January 2022. Since Russia’s full-scale invasion, the key policy rate remained unchanged. However, on June 3, 2022, the key policy rate was raised from 10% to 25%. It remained at this level for more than a year: on July 27, 2023, the rate was reduced to 22%, and on September 15, it was lowered to 20%. The gradual reduction continued until the end of 2023, when the key policy rate was set at 15% on December 15.