ENP Newswire -
Release date- 16072014 - Having analyzed the behavior of macroeconomic and monetary indicators in the January to June period, the Board of the
The rally in consumer prices driven by the hryvnia devaluation, the launch of economic reforms pushing up administered prices and tariffs, and ongoing tensions in the east of
An upward movement in price levels was taken into account when the stabilization program supported by a new Stand-By Arrangement (SBA) with the IMF was being devised. Certain measures under this program might put some upward pressure on consumer prices in the short run. However, an ultimate goal of the economic reform program is to set
Despite the acceleration in inflation price growth, the money market saw some positive signs indicating a gradual improvement of market expectations that under present conditions are the key factors behind the stability of
These developments were corroborated, among other things, by dominance of net supply of foreign currency seen in the foreign exchange market in the past three months. Overall, in the second quarter of 2014, net supply of foreign currency amounted to
A 3.3% increase (or UAH 7.1 billion) in the stock of national currency household deposits seen in June points to an improvement in market expectations.
In its turn, it will help put the economy firmly on the path to growth and restore stability in the financial system.
In view of the above, pursuant to Articles 6 and 25 of the Law of
The discount rate is the base rate for the
The discount rate serves as a benchmark for measuring the price of money. By changing the discount rate the
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