National Bank raises the discount rate to 10%.

The Board of the National Bank of Ukraine has decided to increase the key policy rate to 10% per annum. As many of the pro-inflationary risks have materialized, tighter monetary policy is needed to improve inflation expectations and ensure steady disinflation toward the target of 5%. Having peaked in autumn 2021, inflation has been declining. However, the decline has been slower than expected, and the underlying inflationary pressure has increased.