Ukraine Interest Rate

The National Bank of Ukraine left its key policy rate steady at 15.5% at its June 2025 meeting, marking a second consecutive pause, aiming to support FX market stability, anchor expectations, and guide inflation gradually back to its 5% target over the policy horizon. Policymakers said this stance will support the sustainability of the FX market and keep inflation expectations in check, which will help bring inflation back to a steady decline trajectory. Ukraine’s annual inflation rate quickened to 15.1% in April from 14.6% in March, extending its upward streak to 11 months and reaching its highest point since May 2023. The central bank estimates that inflation continued to accelerate in May but expects it to slow over the summer, supported by the new harvest and improved energy sector conditions compared to last year.