Prime rate unchanged at 6% amid inflation speed-up

UKRAINE - In Brief 11 Dec 2020 by Dmytro Boyarchuk
As expected, consumer inflation accelerated to 1.3% m/m (+3.8% y/y) in November from +1.0% m/m (+2.6% y/y) in the prior month. The tendency was named as the main reason for the NBU Board to leave prime rate unchanged at 6%. The NBU hopes for resumption of the IMF cooperation and keeps reservations on adverse impact of upcoming lockdown in January 2021. The NBU confirms its readiness to increase prime rate in 2021 if inflation keeps strengthening. Next meeting of the Board will be on January 21, 2021.

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