The National Bank of Ukraine (NBU) has decided to keep the key policy rate unchanged at 25%, as market participants expected, the NBU reported on its website on Thursday.

"In order to maintain exchange rate sustainability, with a view to ensuring a steady decline in inflation and creating the right conditions for a gradual easing in FX restrictions, it is important that hryvnia instruments remain highly attractive. In view of that, the NBU Board decided to keep the key policy rate at 25% per annum," the central bank said in a statement.

Keeping the key policy rate at 25% per annum from June 16, 2023 was approved by National Bank Board decision "On the Size of the Key Policy Rate" dated June 15, 2023.

The National Bank said that it will continue to deliver the monetary conditions required for maintaining exchange rate sustainability and ensuring a steady drop in inflation.