*** Dear colleagues, I would like to inform you that the Board of the National Bank of Ukraine has decided to keep the key policy rate at 25% per annum. The NBU has also decided to raise reserve requirements for banks. This will enhance monetary transmission, support exchange rate stability, and gradually slow inflation in 2023.
This means that most of the small amount of economic slack that is likely to open up in Canada during 2003 will have closed by the end of next year.