The NBU keeps prime rate unchanged at 25%, slightly improves macro-forecast

UKRAINE - In Brief 20 Oct 2022 by Dmytro Boyarchuk
The NBU Board meeting did not bring any surprises today. The prime rate was left unchanged at 25% and the NBU even stated that further increase of prime rate is possible if needed. At the same time the NBU this time was more optimistic on Ukraine macroeconomic prospects improving GDP slightly estimated for 2022 and improving gross international reserves forecast. In particular, GDP was estimated to fall by 31.5% y/y in 2022 vs. 33.4% y/y estimated previously. Gross international reserves are expected to reach $26.0 billion by the end of the year ($23.9 billion at the end of September) vs. $20.8 billion, estimated previously.

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