National Bank of Ukraine Lifts Overnight Rates by 2.5%

Effective from today the National Bank of Ukraine raises its overnight refinancing rate by 2.5% to 14.5% for credits secured by government bonds and to 15% for unsecured credits. This is the second time NBU increased the rate in a month in an effort to curb inflation, which hit 14.2% YTD. On November 9, it lifted the rates from 9.0% to 12.0% for credits secured by government bonds and from 10% to 12.5% for unsecured credits.