Ukraine’s central bank raises rates for first time since 2018

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The National Bank of Ukraine

The National Bank of Ukraine

The Ukrainian central bank’s monetary policy board has raised its rate by 50 basis points to deal with “accelerating inflation”.

The National Bank of Ukraine announced on March 4 it was raising the key policy rate to 6.5%, marking its first raise since July 2018. The NBU said year-on-year inflation reached 6.1% in January, above its target band, and according to its preliminary estimates was continuing to accelerate in February.

It said it was “ready to raise its key policy rate more

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