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NBU considers raising of discount rate inexpedient

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NBU considers raising of discount rate inexpedient
Photo: Ivan Chernichkin

The National Bank of Ukraine (NBU) is expecting inflation in 2015 to lower to 10% compared to 17% this year and considers it inappropriate to increase the discount rate today, which stands at 12.5% per annum, NBU Head Valeriya Gontareva has said.

"Although the International Monetary Fund recommends to increase the discount rate in connection with the growth of inflation, we believe that it is not appropriate," she said at a round table in Kyiv.

As reported, on July 17 the NBU raised the discount rate from 9.5% to 12.5% per annum, while interest rates on overnight loans rose from 14.5% to 17.5% per annum.

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