Ukraine's central bank to curb inflation to 5% by end of 2020

ZN.ua Deputy Governor of the National Bank of Ukraine (NBU) Dmytro Sologub says the central bank&#39;s tighter monetary policy will help to curb inflation to 5% by the end of 2020. Read alsoIMF: Ukraine&#39;s inflation in 2017 highest among all CIS members "A tighter monetary policy will help to return inflation to the target range in the second half of 2019 and reduce it to 5% at the end of 2020," the NBU&#39;s press service quoted Sologub as saying. According to him, the tighter monetary conditions will have a deterrent effect on the country&#39;s economic growth. However, such regulatory policy is a forced measure for a gradual reduction in inflation. As UNIAN reported earlier, the National Bank in April decided to keep the key policy rate at 17% per annum after its increase four times in a row to 17% per annum in March 2018, 16% in January 2018, 14.5% in December 2017, and 13.5% in October 2017. According to the NBU Monetary Policy Committee, which makes a decision on recommendations for the regulator&#39;s board, the key policy rate is unlikely to be lowered this year. The NBU&#39;s highest rate was 30% per annum, which was in effect from March 4 to August 28, 2015. Inflation in Ukraine in March 2018 slowed to 13.2% year-over-year (y-o-y) against 14% recorded in February 2018 y-o-y.

Ukraine's central bank to curb inflation to 5% by end of 2020

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