The National Bank of Ukraine (NBU) has decided to leave unchanged the refinancing rate at 18% per annum, the central bank has reported on its website.

Decision No. 714-rsh about the size of the refinancing rate was approved by the NBU Board on October 25, 2018.

"Current and projected monetary conditions are rather tough to provide inflation reduction to the medium-term target 5% in 2020," the NBU said.