NBU to continue cutting refinancing rate, 12% inflation target for 2016

11:44, 28.08.2015 1 min read

The National Bank of Ukraine (NBU) will continue its policy of cutting its refinancing rate, taking into account the current state of the economy, and will hold it at a level that slightly exceeds the inflation level, NBU Governor Valeriya Gontareva said at a briefing on Thursday.

"Our refinancing rate must always be slightly more than our projected inflation. The projected inflation for 2016 is 12%. I think that our task is to move in this direction," she said.

As reported, proposals on the key elements of monetary and credit policy for 2016-2019 approved by NBU decree No. 541 of August 18 foresee an inflation target of 12% in 2016, with the subsequent reduction of 5% every year to 5% in 2019.