The National Bank of Ukraine decided to increase the discount rate from 14.5% to 15.5% per annum, starting from March 7, 2025. This is the third consecutive rate increase, stated Head of the NBU Andriy Pishnyi.
According to him, the decision is aimed at maintaining the attractiveness of hryvnia savings, ensuring the stability of the currency market and controlling inflationary expectations. He emphasized that such measures will allow inflation to return to the path of sustained slowdown to the 5% target.
“The NBU will be ready to take additional measures in case of further strengthening of risks to price dynamics and inflationary expectations”, – explained Pishnyi.
In addition, in order to increase the attractiveness of hryvnia savings, the NBU is making changes to the operational design parameters of the interest rate policy.
“Such changes will strengthen market incentives for banks to attract time deposits of the population in hryvnia. This will contribute to the further growth of interest rates on hryvnia term instruments, and accordingly – to the strengthening of the protection of citizens’ hryvnia savings against inflationary depreciation. As a result, the risks to price dynamics, the currency market and international reserves are expected to decrease.” – emphasized the chairman of the NBU.
