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The National Bank has retained the discount rate at the level of 6%

10.12.2020

This is indicated in a statement by the NBU following a meeting of the Monetary Committee, Ukrainian News Agency reports.

 

"Consumer prices rose by 3.8% y/y in November. On a monthly basis, the index also grew by 1.3%. This growth was higher than the National Bank had expected. A significant contribution was made by the increase in the cost of natural gas in the European market, which affected domestic prices for gas, heating and hot water. Besides, the prices of certain foodstuffs have skyrocketed due to a worse harvest and the associated rise in world prices," it was said.

 

It is noted that rapid consumer demand has also supported the rise in prices in recent months.

 

Higher incomes and worsening expectations, including due to the uncertainty of quarantine, prompted citizens to spend heavily.

 

This was evidenced by the growth of retail turnover.

 

It also contributed to a strong economic recovery in the second half of the year.

 

The impact of the "weekend quarantine", according to NBU estimates, was relatively insignificant, although it led to deterioration in business and consumer sentiment.

 

Following:  Ukranews