After a long cycle of easing monetary policy, the National Bank was forced to raise its discount rate to 14. 5%. This was on Tuesday, December 19, during the final meeting, said Acting Chairman of the National Bank of Ukraine Yakov Smoly.

According to him, such a decision in October and December was based on a number of factors and was quite justified. However, if in the future the regulator will see the risks, it is possible to further increase the discount rate, - said Smoly.

However, he added that the decision of the NBU to raise rates in October and December should not affect the long-term trend towards lower interest rates.

Recall, the discount rate - the equivalent of the value of money in the economy. At this rate, the NBU provides funds to commercial banks, and those, in turn, lend to natural persons and legal entities. Thus, the discount rate affects the cost of credit resources.

The increase in the discount rate indicates an increase in the level of inflation and a drop in the rate of economic growth in the country.

Recall, as reported URA-Inform, the National Bank of Ukraine increased the discount rate from 13.5% to 14.5% per annum.

As it was informed on the official website of the regulator, the decision was made by the board of the central bank on Thursday, December 14, and it will come into force on December 15, 2017.