NBU raises key policy rate to 15.5%

NBU Governor Andriy Pyshnyy announced this at a briefing, an Ukrinform correspondent reports.

“The Board of the National Bank of Ukraine has decided to raise the key policy rate to 15.5% per annum and to adjust the operational framework parameters of its interest rate policy. These decisions aim to support the attractiveness of hryvnia savings, maintain the sustainability of the FX market, and keep inflation expectations in check, which will allow bringing back the steady disinflation trajectory toward the 5% target,” Pyshnyi said.

He has noted that the NBU stands ready to take additional monetary measures if risks to the price dynamics and inflation expectations continue to rise.

As reported by Ukrinform, the National Bank of Ukraine raised the key policy rate to 10% in January 2022. Since the beginning of Russia’s full-scale invasion, the key policy rate remained unchanged. However, on June 3, 2022, the key policy rate was raised from 10% to 25%. It remained at this level for more than a year. On July 27, 2023, the rate was cut to 22%, and its gradual decline continued. Until December 2024, when the rate was increased to 13.5% in response to inflationary developments, and to 14.5% in January 2025.