In the opinion of Council members, such a measure will restrain GDP growth. As the head of the board Bohdan Danylyshyn wrote this morning on his Facebook page, the decision of the board of the bank of Ukraine to raise the discount rate will have mainly negative consequences for economic growth and price stability.

In addition to raising the discount rate, there will also be an increase in other rates, including on deposit certificates, as a result of which the NBU's expenses for servicing these certificates will grow, which in turn will lead to a decrease in the amount of profit to be transferred to the state budget, Danylyshyn.

He also noted that the result of the decision of the NBU will be a decrease in the demand for loans from enterprises in this sector, as well as the transfer of an increase in the costs of paying interest on loans on the value of goods and services in retail.

Recall, as reported URA-Inform, yesterday the National Bank of Ukraine increased the discount rate to 16% per annum from 14.5%. The regulator motivated his decision by the fact that such a measure would help reduce inflation risks.