NBU predicts inflation in 2016 could be 12%

14:35, 07.10.2015 1 min read

Governor of the National Bank of Ukraine (NBU) Valeriya Gontareva, at a monthly meeting with the heads of the largest Ukrainian banks, said that the macroeconomic situation in the country has stabilized and the monetary policy of the regulator has been mitigated, the NBU said on its Facebook page late on Tuesday.

"We cut the refinancing rate from 30% to 22%. The NBU will try to cut the refinancing rate to a level slightly higher than inflation for the relevant period in 2016," Gontareva said.

The NBU predicts that inflation in 2016 would be 12%.

According to the report, the stable situation on the currency market allowed the NBU to enter the interbank currency market with purchases of foreign currency for the country's international reserves.

"From September 17, the NBU is holding currency auctions to buy foreign currency, and we've already bought $223 million," Gontareva said.

The NBU's international reserves grew to $12.8 billion in September.

"Now we see the increased supply of foreign currency, which we could buy to the reserves of the National Bank, not shaking and fueling the currency market," she said.