Government to insist on accelerating reduction of rates by NBU

11:47, 17.03.2017 1 min read

Ukrainian Prime Minister Volodymyr Groysman has criticized the National Bank of Ukraine (NBU) for insufficiently serious steps to cheapen credits in the country.

"The refinancing rate is being cut, but not much as we would like. We will insist on accelerating this work," the prime minister said in parliament on Friday.

As reported, the NBU early March 2017 retained the refinancing rate at 14% per annum. The rate has not been changed since October 28, 2016.

Earlier the NBU reduced the rate to 15% from September 16, to 15.5% from July 29, to 16.5% from June 24, to 18% from May 27, to 19% from April 22, 2016 and to 22% from September 25, 2015 when the central bank cut it from 27% per annum.

Inflation in annual terms accelerated to 14.3% in February 2017 from 12.6% in January and 12.4% in 2016.

The NBU projects inflation will slow to 9.1% in 2017.