REUTERS
The central bank in mid-July decided to hike its key rate by 0.5 percentage points to 17.5%.
The National Bank of Ukraine (NBU) may raise its key policy rate in September in case inflation risks continue to increase.
"MPC members [the NBU Monetary Policy Committee] agreed that if realization of the above risks or occurrence of new risks to lower inflation or macrofinancial stability became more probable, the NBU could raise the key policy rate again to a level required to bring inflation back to its medium-term target," reads a statement in the summary of the July 11 discussion on the key policy rate at the NBU MPC, posted on the NBU website.
The document notes that when discussing the past decision by the Committee eight out of nine its members spoke in favor of increasing the key policy rate, which as a result increased by 0.5 percentage points.
The regulator named continued rapid growth in consumer demand, lower investor interest in assets of developing countries, delayed implementation of the IMF cooperation program, and high inflation expectations among the major factors that could slow the pace of disinflation.
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As UNIAN reported earlier, the National Bank in mid-July decided to hike its key rate by 0.5 percentage points to 17.5% with its earlier decisions suggesting it be kept at 17% in April and May 2018.
Ukraine's highest key rate was set at 30% from March 4 to August 28, 2015.
Inflation in Ukraine in June 2018 slowed to 9.9% year-over-year (y-o-y) against 11.7% recorded in May 2018 y-o-y.