The National Bank of Ukraine (NBU) again decided to remain unchanged the refinancing rate at the level of 18% per annum, according to a posting on the website of the central bank on Thursday.

"The NBU Board decided to keep the refinancing rate at 18% per annum. The retaining of the refinancing rate at the same level is aimed at reducing inflation to the 5% target in 2020," the NBU said in the report.

Decision No. 88-rsh on the size of the refinancing rate was approved by the central bank's board on January 31, 2019.

As reported, the National Bank, following the results of the previous meetings of the monetary committee, on December 25 and October 25, kept the refinancing rate at 18% per annum. Prior to this, the central bank raised the value of money six times: from 12.5% to 13.5% per annum on October 27, 2017, then to 14.5% per annum from December 15, 2017, to 16% per annum from January 26, 2018, to 17% per annum from March 2, 2018, to 17.5% per annum from July 13 and up to 18% per annum from September 7.

The last time the central bank reduced the refinancing rate - to 12.5% from 13% per annum – on May 26, 2017.