The slow pace of the vaccination campaign in Ukraine, coupled with higher inflationary pressures arising from the rebounding global economy, poses an additional risk of future economic losses. There are other significant risks. They include: an escalation of the military conflict in eastern Ukraine or on the country’s borders volatile global capital markets and a dramatic deterioration in the terms of trade.
Taking into account all of the above, the NBU Board decided to raise the key policy rate to 7.5%. How does the NBU intend to change the key policy rate in future? The NBU’s forecast envisages that the key policy rate will remain unchanged, at 7.5%, until the end of 2021.