Monetary base in Ukraine in February 2016, after contracting by 0.3% in the previous month, decreased by 2%, to UAH 328.541 billion, the National Bank of Ukraine (NBU) has said.

According to its data, money stock in February 2016 increased by 2.1%, to UAH 1.016 trillion, after rising by 0.1% in the previous month.

The National Bank said that the volume of cash outside banks in February decreased by 0.8%, to UAH 269.509 billion, whereas in the previous month by 3.6% after rising by UAH 9.7 billion in December last year caused by peak budgetary payments.

As reported, monetary base in Ukraine in 2015 increased by 0.8%, money stock by 3.9%, while cash in circulation decreased by 0.1%.

The National Bank in late January downgraded its forecast for monetary base growth in 2016 from 17.2% to 8.3%, money stock from 16.8% to 10.5% with the forecast for inflation being 12%, setting the figures for 2017 at the level of 8.3% and 11.5% respectively with the inflation forecast being 8%.