Ukraine’s international reserves decreased for the fourth consecutive month in July 2024, dropping by 1.8% to $37.23 billion, the National Bank of Ukraine reported on its website. The prolonged decline is due to external financial aid not covering the amount of currency the National Bank sells on the domestic foreign exchange market. This situation may … Read more
The National Bank of Ukraine (NBU) has worsened its forecasts for the migration of Ukrainians: if in April of this year it expected an outflow of 200,000 this year and an inflow of 400,000 next year, now it estimates the outflow this year at 400,000, and next year at 300,000. “This assumption has been worsened … Read more
The National Bank of Ukraine (NBU) has worsened the price growth forecast for 2024 and 2025 by 0.3 and 0.6 percentage points (p.p.), respectively – to 8.5% and 6.6% primarily due to increased business costs for labor and electricity. “Price pressure will continue in the coming months due to further increases in business costs, higher … Read more
The pace of the hryvnia weakening over the past few weeks may create additional risks for the resilience of the foreign exchange (FX) market and, consequently, for price stability, according to the National Bank of Ukraine (NBU). “Therefore, the National Bank is ready to take appropriate steps to build greater FX market resilience required for … Read more
Ukrainian companies are forced to offer higher wages as they are faced with increasing labor shortages, according to a report by the National Bank of Ukraine (NBU) published on July 4. Over 6 million Ukrainians left or were forced out of their home country after the outbreak of Russia’s full-scale war, according to UNHCR. The … Read more
Demand for housing is growing moderately mainly due to the secondary market, while investment demand and interest in new buildings remains low, according to the Financial Stability Report for June 2024 prepared by the National Bank of Ukraine (NBU). According to the document presented on Wednesday, in the first quarter of 2024, notaries signed third … Read more
The National Bank of Ukraine decided to reduce the discount rate by half a percentage point to 13.0% starting on June 14, the regulator announced on Thursday. The lower rate is intended to support the recovery of the economy, but such a modest reduction is related to expectations of an acceleration of inflation in the … Read more
The National Bank, together with the adoption of the Lending Development Strategy, updated the minimum requirements for capital adequacy standards for banks under a new (three-tier) structure, and from August 5, 2024, banks must comply with the standards: fixed capital adequacy level 1 – at the level of 5.625%, tier 1 capital adequacy – 7.5% … Read more
The international monetary reserves of the National Bank of Ukraine (NBU) declined by 7.9% in May, resulting in a total of around $39 billion at the beginning of June, the NBU said on June 6. The NBU’s international reserves have fluctuated significantly since the beginning of Russia’s full-scale war, dropping as low as $22 billion … Read more
Customers’ net demand for foreign currency through non-cash transactions increased by 41% in May due to an increase in budget expenditures, which is associated with receipts of international assistance in March-April, the National Bank of Ukraine (NBU) said in a commentary to Interfax-Ukraine on Wednesday. “In addition, during the last week of May there were … Read more