National Bank of Ukraine Maintains the Discount Rate at 15.5%

The Board of the National Bank of Ukraine has decided to keep the discount rate unchanged at 15.5%. This decision is aimed at supporting the stability of the currency market, controlling inflation expectations, and gradually reducing the inflation rate to the planned target of 5%.

This is reported by AgroReview

Furthermore, the National Bank has revised its forecasts for the consumer price index in 2025 — from 8.4% to 8.7%. Despite this, according to the regulator’s forecasts, in the summer, the rate of price growth year-on-year is expected to start slowing down for most goods and services. Increased harvests will contribute to a decrease in food inflation starting from the third quarter of 2025, and its stabilization at a low level thereafter.

Expected Decline in Inflation and the Impact of Monetary Policy

According to forecasts, fundamental inflationary pressure will gradually decrease under the influence of the National Bank’s monetary policy measures, improvements in the electricity supply situation, and moderate trends in the labor market. Additionally, the decline in oil prices due to global trade tensions will also play a role in reducing inflationary pressure.

“As a result, inflation will decrease to 8.7% by the end of 2025, and to the target of 5% in 2026,” the regulator predicts.