Money supply climbs up 3.8% mom in July

According to the National Bank of Ukraine, in July money supply was up 3.8% mom (+18.0% YTD) to UAH 467.5 bln (USD 96.5 bln), while monetary base rose 6.1% mom (+15.3% YTD) to USD 33.8 bln. Andrii Parkhomenko: As in June, in July, the main reason for growth in monetary aggregates was sizeable inflows of foreign currency to the country. The central bank executed record high currency interventions of USD 2.5 bln. Nevertheless, the aggregates have grown much slower over the year to July than last year, which underlines that the NBU conducts more discreet monetary policy.