Ukraine's National Bank lowers discount rate from 13.5% to 11%

Source : 112 Ukraine

In 2019, consumer inflation slowed to 4.1%
15:29, 30 January 2020

National Bank of Ukraine

National Bank of Ukraine lowered the discount rate from 13.5% to 11%. This was stated by the NBU’s press service following the results of the meeting of the monetary committee.

Thus, in 2019, consumer inflation slowed to 4.1% (from 9.8% in 2018), which is the lowest level in the last six years.

The National Bank has reached the medium-term inflation target of 5% ± 1 pp, which it has declared since 2015, even faster than it was expected.

Related: IMF, World Bank predict global crisis: How to mitigate uncertainty?

As we reported earlier, In 2019, the total national and government-guaranteed foreign currency debt of Ukraine increased by 7.71% and reached 84,36 billion dollars at the end of 2019. At the same time, the national currency debt decreased by 6,8 billion dollars (7.71%) to the level of 80,8 billion dollars. This was reported by the press service of Ukraine’s Ministry of Finance.

"The fluctuation in the amount of public debt is due, in particular, to the strengthening of the national currency," the Ministry said.

It is noted that the ratio of government and government-guaranteed debt to projected GDP at the end of 2019 is about 50% and public debt is 44% compared to 60.9% and 52.3% at the end of 2018, respectively.

Related: Ukraine's economy to see up to 3.7-percent growth in 2020, - World Bank

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