The Board of the National Bank of Ukraine (NBU) has decided to keep its key policy rate at 8.5% per annum, the central bank said on its website.

"The Board of the National Bank of Ukraine has decided to keep its key policy rate at 8.5% per annum. This decision comes in line with a decline in inflation to 5% at the end of next year projected in the baseline scenario of the updated macroeconomic forecast," the NBU said.

If an increase in morbidity is recorded and, as a result, a lockdown and a significant slowdown in economic activity, as well as an increase in fundamental inflationary pressure, the National Bank is ready to take additional measures to return inflation to the 5% target, the regulator said.