Ukraine monetary base rises 0.8% in November
12 December 2016
Ukraine’s monetary base rose 0.8% m/m (+6.5% YTD) in November from a 0.2% m/m decline in October, the National Bank of Ukraine (NBU) said on Dec. 9, as reported by the UNIAN news agency. Money supply (M3) decreased 1.0% m/m in November (+5.1% YTD) being flat m/m in the prior month.
Alexander Paraschiy: An NBU dividends wire of UAH 14.0 bln seems to be the main factor in the November increase. Hryvnia injections through ForEx interventions were quite modest, amounting to USD 80 mln in November. The tendency is in line with our expectations.
By the year end, we anticipate the monetary base rising 7.6% YTD. For 2017, we project the monetary base slowing to near 6.0% YTD amid NBU attempts to curb inflation.
