Ukraine’s Central Bank Maintains High Interest Rate Amid Revised Economic Forecasts

Ukraine’s National Bank has decided to maintain its benchmark interest rate at 15.5% as it continues to navigate the complexities of the ongoing war and its impact on the economy. The bank’s latest announcement, made on July 24, revealed a downward revision of both growth and inflation projections, citing war-related damage and the adverse effects of a poor harvest season as key factors influencing these adjustments. This decision underscores the bank’s cautious approach in managing the country’s economic stability amidst prevailing challenges.