The Central Bank of Ukraine is Trying to Erase the Traces of the War
Ukraine is preparing to restore its financial system, which was destroyed by the invasion of Russia. The Central Bank noted that they are preparing to return to normal in monetary policy decisions as of next month in order to erase the traces of the war.
The interest rate decisions of the Central Bank of Ukraine were suspended in February with the Russian invasion of Ukraine. While the war that broke out turned the economy upside down, the rise in inflation reached peak levels.
Announcing its latest interest rate decision in January, the Central Bank of Ukraine increased the policy rate by 100 basis points to 10 percent. In the next meetings, the bank postponed its decisions and noted that the meetings will continue regularly when the economy returns to normal.
Three sources with information on the subject stated that the bank could take a new decision in June or July, with a higher probability of July. According to the pre-war calendar announced by the bank, the next monetary policy meetings will take place on June 2 and July 21.