The central bank stated this in “Summary of the discussion on the key policy rate at the NBU Monetary Policy Committee,” the NBU press service reports.
“The majority of the members [of the NBU’s Monetary Policy Committee] concurred that the key policy rate might be raised in the near future if there are no strong indications of lowering inflationary pressure,” reads the report.
The regulator added that if risks of early termination of the EFF program with the IMF take place and the fiscal policy continues to loosen, the monetary policy tightening will need to be intensified.
“At the same time, the probability of the monetary policy easing by the end of 2018 is low,” according to the document.
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