The National Bank of Ukraine has decided to keep the key policy rate at 15% as of May 1, 2026. This measure is designed to maintain the attractiveness of hryvnia-denominated instruments, ensure currency market stability, and manage inflation expectations amid rising price pressures. This was reported by Dengi.ua with reference to the NBU press service.
The regulator noted that keeping the rate unchanged will bolster the stability of the foreign exchange market against a backdrop of significant geopolitical uncertainty. Furthermore, the NBU emphasized that this decision does not pose a threat to the expansion of lending, which continues to grow at a robust pace. However, should risks to price dynamics escalate, the NBU stands ready to implement additional measures to contain inflationary pressure.
To keep inflation under control and return it to a sustainable downward trajectory, the NBU has revised its projected path for the key policy rate: it is now expected to remain at 15% until the second quarter of 2027.
To steer inflation back toward its target within the policy horizon, the NBU will also ensure stability in the foreign exchange market under its managed exchange rate flexibility regime. If risks to price dynamics intensify, the NBU remains prepared to adopt further tightening measures, including potential hikes to the key policy rate rate.
