The Board of the National Bank of Ukraine has kept the discount rate at 25% per annum and plans to keep it at this level at least until the second quarter of 2024. At the same time, the balance of risks for the discount rate forecast is shifted upwards, the NBU said in a statement..

The National Bank expects that the decision taken in June to raise the discount rate will continue to affect the growth of market rates and will increase the attractiveness of hryvnia assets, which, together with the adjustment of the official exchange rate and additional economic policy measures, will reduce demand in the foreign exchange market. This, in turn, will help maintain a sufficient level of international reserves and ensure exchange rate and macro-financial stability..

As the head of the NBU Kirill Shevchenko noted, inflation in the country is accelerating, but controlled. So, in June, price growth was at the level of 21.5% year on year..

“Inflationary pressures will continue: at the end of 2022, consumer price growth rates will exceed 30% year on year. The main factors will continue to be the consequences of the war and high world prices, primarily for energy,” Shevchenko said, adding that in such conditions the NBU will continue its tight monetary policy..

If hostilities end at the beginning of 2023, the National Bank expects inflation to slow to 20.7% in 2023 and to 9.4% in 2024. Return of inflation to the target of 5% is possible only in 2025 with a positive development of events.

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It should be noted that utility tariffs have not changed much since July 1, however, some conditions have changed, including payment for gas.

By November, we will have inflation of 75%, an exchange rate of 45 hryvnia to the dollar, incredible debts and a rapid decline in foreign exchange reserves. But the government still does not admit that we have serious problems with the economy. Yulia Samaeva talks about this in the article \?