Ukraine hasentered a stable disinflationary trend, suggesting further price declines are in the cards, National Bank Governor Andriy Pyshnyy told the We Are Ukraine TV channel on May 2, reported Ukrinform. “Prices will fall,” Pyshnyy stated. “The demand for [foreign] currency is decreasing. This is the result, among other things, of the NBU’s monetary policy, which … Read more
For the first time in a year and a half, Ukrainian businesses are expecting their production to grow, according to the National Bank of Ukraine (NBU) monthly business activity expectations index (BAEI), published on May 1. BAEI went up from 49.5 in March to 51.5 in April, crossing the neutral level of 50 points, indicating positive … Read more
The National Bank of Ukraine (NBU) has developed a proposal to limit marginal interest rates for consumer loans, which would require amending existing regulations on consumer lending, the regulator said in a message on its website on May 1. NBU notes that setting marginal interest rates for microloans is a well-established practice in the UK, EU, and … Read more
The National Bank of Ukraine (NBU) has revised its 2023 inflation forecast from 18.7% to 14.8%, stating that inflation will drop and return to a single-digit figure in the next years, the NBU’s press service reported on April 27. “Inflation will continue to decelerate, including due to lower global energy prices, restrained domestic demand, and the effect of the … Read more
The National Bank of Ukraine (NBU) has improved its economic growth forecast for 2023, from 0.3% to 2.0%, in view of the rapid recovery of the energy system and loose fiscal policy, the NBU’s press service reported on April 27. “Already this year, the economy will return to growth, which will accelerate in the coming years on the … Read more
The negative scenario of a 10% decrease in Ukraine’s GDP in 2023 and a 2% decrease in 2024 set out in the Extended Fund Facility (EFF) program confirms the IMF’s readiness to support the country no matter what, National Bank of Ukraine Governor Andriy Pyshnyi told Interfax-Ukraine on April 5. “The program has been approved, even if … Read more
The National Bank of Ukraine’s (NBU) international reserves exceeded $32 billion after receiving the first IMF loan tranche worth $2.7 billion, NBU First Deputy Governor Kateryna Rozhkova said on national television on April 3. “Ukraine has already received the first tranche of $2.7 billion under the new (IMF) program for. Given these funds, the amount of assistance received … Read more
Members of the Monetary Policy Committee (MPC) of the National Bank of Ukraine (NBU) at a meeting on March 15 refused to tighten reserve requirements (RR) for corporate deposits, in particular, to equate the required reserve requirements for corporate deposits that have up to three months’ maturity to the requirements for corporate funds accumulated on … Read more
Ukraine will no longer return to “dangerous” money printing to cover state expenses, National Bank of Ukraine (NBU) chair Andriy Pyshnyi confirmed to the Financial Times on March 26. An “open conflict” with the Ukrainian government on this matter was settled, Pyshnyi said. Printing of billions hryvnia last year “created huge risks for macro-financial stability,” although it … Read more
Ukraine will gradually lift foreign currency restrictions imposed at the beginning of 2022 after Russia’s full-scale invasion, National Bank of Ukraine (NBU) head Andrii Pyshnyi said at a briefing on March 16. “We strongly intend and have a clear vision of how to move toward easing administrative restrictions and currency liberalization,” Pyshnyi said. Ukraine received … Read more