Central Banks
Ukraine’s Resilience Helps Halt Economic Drop, Central Banker Says
- Inflation may be lower than expected this year, Pyshnyi says
- He sees no need to change interest rates in coming four months
Andriy Pyshnyi
Photographer: Vyacheslav Madiyevskyi/Future Publishing/Getty Images
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Ukrainians’ resilience is helping arrest a plunge in economic growth, and inflation is accelerating slower than expected in the face of Russia’s campaign to destroy the nation’s energy infrastructure, the head of the central bank said.
Households and businesses have kept working and avoided spreading panic in the currency and banking markets, in a show of resistance as the war enters its 11th month, National Bank of Ukraine Governor Andriy Pyshnyi said in an interview. That may be enough for the economy to level off or grow slightly next year, after a more than 30% contraction this year, he said.