Five out of ten members of the Monetary Policy Committee (MPC) of the National Bank of Ukraine (NBU) believe that the key policy rate should be further raised this year.
“The NBU will have to further raise the key policy rate this year to ensure that inflation returns to its 5% target in 2022, five MPC members proposed. In contrast, the other half of the MPC did not rule out that previous key policy rate hikes and the rollback of anti-crisis monetary measures might prove sufficient to ease inflationary pressures,” reads the report posted on the website of the central bank.
The decision to keep the key polity rate at 7.5% per annum was approved by the NBU Board at the monetary policy meeting held on June 17. Seven MPC members then called for maintaining the key polity rate at 7.5%, whereas three called for its increase to 8%. (Ukrinform/Business World Magazine)
