NBU surprises with hold in Shevchenko’s first policy decision
New governor had seemed to hint at desire to ease policy, but now indicates rate will remain on hold
The National Bank of Ukraine surprised many analysts today (July 23) by holding rates, a few days after new governor Kyrylo Shevchenko gave remarks that many interpreted as a desire to ease policy.
The NBU board opted to hold the policy rate at 6%. “This, on the one hand, will curb price growth as the economy recovers in 2021–22, while on the other hand leaving room for further decreasing the cost of credit to one-digit levels,” Shevchenko told press.
Inflation was 2.4% in June. Though the
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