The National Bank of Ukraine’s Monetary Policy Committee (MPC) has decided to maintain the key policy rate at 15.5% per annum, as all 11 members supported the decision at their July 23 meeting. The outcome was published on the central bank’s website, confirming unanimous agreement.
This decision reflects the MPC’s continued focus on balancing inflation control and economic growth. By keeping interest rates unchanged, the MPC aims to provide stability to the financial system while supporting economic activities. The rate remains significantly higher than the European Central Bank’s benchmark rate, which has been lowering its rates in response to economic conditions within the Eurozone.
The MPC’s stance is seen as a measure to curb inflation, which has remained above the central bank’s target range in recent months. The decision also signals a cautious approach to economic expansion, weighing the risks of potential inflation against the benefits of growth. Economists and analysts have pointed out that the MPC’s unanimous support underscores strong consensus among the committee members.
This rate decision comes amid ongoing discussions about the broader economic outlook for Ukraine, including its integration into international financial markets and the impact of Western sanctions. The MPC’s commitment to maintaining the current rate also highlights the central bank’s role in managing external economic pressures and ensuring macroeconomic stability.