The Central bank increases prime rate by 1.0 ppt up to 17.0%

UKRAINE - In Brief 01 Mar 2018 by Dmytro Boyarchuk
The Board of the Central bank decided to increase prime rate by 1.0 ppt up to 17.0% from March 2. Strong inflation of January (+1.5% m/m or +14.1% y/y) and provisional data on February inflation (information is not available to public) pushed the Central bank to make one more tightening step. Monetary authorities remain concerned about delayed IMF program as well as mounting inflation expectations and claim further prime rate increase is possible. Next review of the prime rate is scheduled for April 12. So far the Central bank keeps its CPI forecast unchanged at +8.9% for 2018.

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