UNIAN
The Monetary Policy Committee of the National Bank of Ukraine (NBU) has recommended that the NBU Board maintain the bank’s discount rate at the current level of 30%, according to the Web site of the central bank.
"On 22-23 April 2015, there was a regular meeting of the Monetary Policy Committee of the National Bank of Ukraine, during which it was decided to recommend to the Board of the National Bank of Ukraine to maintain the current discount rate at 30%," the statement reads.
According to the NBU, the key condition behind the gradual decline in inflation seen in March to 45.8% in annual terms was the further stabilization seen in the foreign exchange market, which the bank said would help eliminate negative inflation and devaluation expectations.
The committee expects that in the short term perspective, and provided there are no external shocks, the risks to the stability of the national currency will be reduced, while allowing the national regulator to ease its monetary policy.
The next committee meeting will be held on May 27-28, 2015.
As UNIAN reported earlier, starting from March 4, 2015 the NBU raised the discount rate to the highest ever level in the history of Ukrainian banking system - to 30%, up from 19.5% per annum.
Following the increase in the discount rate, the regulator raised rates on liquidity support operations, including a one-day refinancing rate to 33% per annum, and the rate for the mobilization of resources through the sale of certificates of deposit.