Growth of monetary base in Ukraine in 2014 slowed to 8.5% from 20.3% in the previous year, being considerably lower the limiting value set in the key principles of the monetary and credit policy (up to 28%).

"Money supply in a month [December] fell by 1.8% (it has growth by 4.9% since early 2014), to UAH 953.8 billion. Monetary base over the period grew by 1.5% (by 8.5% since early 2014), to UAH 333.2 billion," reads the report of the National Bank of Ukraine (NBU), referring to tentative data.

As reported, money supply in December 2013 rose by 2.9%, and monetary base – by 6.5%.

NBU Governor Valeriya Gontareva said on January 16 in the parliament that growth in monetary base in 2014 will be 10.2% and this year it will expand by 27%.

The NBU said that off-bank cash in 2014 grew by 18.9%, to UAH 282.8 billion. In December, its dynamics slowed to 0.1% from 0.3% in November.

According to the report, deposits in national currency in December grew by 0.6% compared to the previous month (a decline of 13.7% since early 2014), to UAH 364.5 billion thanks to growth in ending stocks on accounts of companies by 5.1% (by 0.2% since early 2014), to UAH 1.69.1 billion.

Ending stocks on hryvnia deposit accounts of individuals over the period fell by 2.9% (by 23% since early 2014), to UAH 195.3 billion: in 2014, Ukrainian took deposits in hryvnias worth UAH 58.3 billion from banks.

Deposits in foreign currency last month fell by 10.7% (by 37.2% since early 2014), to $19.4 billion in the U.S. dollar equivalent, including a decline of 24.7% for companies (27.9% since early 2014), to $5.6 billion and a decline for 3.4% (40.3% since early 2014) in individuals, to $13.7 billion.

Growth of credits issued in the national currency was 1.1% (a decline of 8.6% since early 2014), to UAH 545.5 billion, hryvnia credits to companies grew by 1.8% (a decline of 7.7% since early 2014), to UAH 438.3 billion and to individuals they fell by 1.8% (by 12% since early 2014), to UAH 107.2 billion.

Credits in foreign currency fell by 3% in December (by 22.1% since early 2014), to $30 billion in the .S. dollar equivalent, including that of companies by 3% (by 21.5%), to $23.7 billion and individuals – by 3.2% (by24.2%), to $6.3 billion.

According to the NBU, the volume of banks' correspondent accounts at the NBU in December increased by 8.3% (since the start of the year it fell by 17.6%), to UAH 27.2 billion. The volume of obligatory reserves amounted to UAH 39.4 billion in December, in particular UAH 200 million was transferred to the separate account at the central bank.

Refinancing by the central bank of commercial banks in December came to UAH 42.9 billion (UAH 222.3 billion in 2014) and mobilization operations totaled UAH 155.5 billion (UAH 1.473 trillion in 2014).