The bank rate of the National Bank of Ukraine, on which the loan and deposit rates in commercial banks depend, will now change slower or will not change at all, Deputy NBU Governor Dmitry Sologub said, Finance.UA correspondent reports.
«Currently, we exited the stable cycle of reduction of rates and entered more or less normal, stable business cycle, where the rate will change slower. Or cannot change at all, as it was in December. Here, it is very important to ensure further movement of monetary transmission. In order the market understands any, even most insignificant, movement of the National Bank», Sologub said.
In March 2015, NBU’s new team sharply raised the bank rate from 19.5% to 30%, after which it gradually decreased it to 14% in late October 2016. In December, the National Bank kept its rate at the previous level due to risks for price stability.
It should be reminded that NBU Board reconsiders bank rates at monetary policy sessions; the next session is scheduled for January 26.
