NBU hopes to come to an unambiguous indicator of inflation in 2016
The national Bank of Ukraine hopes to come to an unambiguous indicator of inflation in 2016 due to the tighter monetary policy notified on the Internet office of the Governor on Thursday.
The regulator has decided on February 6, to increase the discount rate from 14% to 19, 5%, hoping that tighter monetary policy will help stabilize the monetary market due to the increasing attractiveness of financial instruments in local currency.
"Higher interest rates with other stabilization measures, the government and the National Bank of Ukraine in the framework of a new program with the international monetary Fund will help slow down the rate of inflation in the first half of 2015 and will provide the basis for the return of inflation to a single-digit level in 2016, according to the report.
The national Bank expects consumer inflation to the end of 2015 at level 17, 2% drop in GDP by 4-5%. According to the NBU, in the early winter of 2014 consumer inflation reached 24, 9% in annual terms. Core inflation rose to 22, 8%, and most accelerated in the last 3 months.
"A major factor in the acceleration of inflation was the depreciation of the exchange rate to eventually implement accumulated in the past imbalances and