Central Banks
Ukraine Halts Run of Rate Cuts as Inflation Accelerates
- Policymakers opt to leave benchmark at 13% after three cuts
- Central bank raises 2024 GDP forecast despite Russian strikes
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Ukraine halted a run of three interest-rate cuts as an acceleration in inflation prompted policymakers in the war-battered nation to signal that easing may only be resumed next year.
The National Bank of Ukraine held the key rate at 13% Thursday, as predicted by six out of nine economists in a Bloomberg survey. Three expected a reduction in borrowing costs of at least a quarter of a percentage point.