Bank of Ukraine leaves interest rates unchanged at 25%

Ukraine’s central bank leaves interest rates unchanged at 25% and signals holding until 2024

Ukraine’s central bank has decided to leave the interest rate unchanged. It has also signaled that the bank will keep interest rates at this level until the second quarter of 2024 to cope with rising inflation.

The central bank expects Ukraine’s economy to contract by 32% this year, but says it is recovering. It has declined sharply since the Russian attack on Ukraine on February 24.

The central bank also estimates that the Ukrainian economy will continue to recover in 2023-2024, while security risks are expected to decline significantly from mid-2023.

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