Inflation rate is slowing down in Ukraine, and the bank rate will decrease

The National Bank of Ukraine (NBU) has already reduced the bank rate from 25 percent to 22 percent. The next stage is expected in September. By the end of the year, the NBU will probably be able to set the bank rate at the level of 18-19 percent. Olena Korobkova, Chair of the Board of the “League of Banks of Ukraine” made this statement at a briefing at Media Center Ukraine – Ukrinform.

“The inflation rate is decreasing due to the fixed exchange rate, general stabilization of the economic situation and management of the administratively regulated tariffs, except for electricity. In other words, Ukrainians have adapted and recovered after the shock.”

During a briefing at Media Center Ukraine – Ukrinform, the Chair of the Board of the “League of Banks of Ukraine” noted that the dollar exchange rate remains fixed at an average of UAH 38 per one dollar. It is expected that by the end of the year the currency corridor will be from UAH 37 to 39.

“The influx of foreign financial support helps to maintain the fixed exchange rate. This, in particular, helps the NBU not only to spend money on foreign currency and balance the foreign exchange market, but also to build up gold and foreign exchange reserves,” said the Chair of the Board of the “League of Banks of Ukraine”  during a briefing at Media Center Ukraine – Ukrinform.

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