Ukraine maintains interest rate but reform worries linger

By Mariam Meskin
04 Sep 2020

The National Bank of Ukraine’s (NBU) decision to maintain interest rates against pressure to cut them was not enough reassurance for analysts worried about the broader reform agenda in the country. As the saga continues surrounding the ownership of one of its banks rumbles on, a number of obstacles stand in Ukraine’s path to recovery.

On Thursday, the central bank of Ukraine decided to keep interest rates unchanged at 6%. The decision, some said, was an effort by new central bank governor Kyrylo Shevchenko to reinforce the independence of the central bank against pressure to lower borrowing costs.

“It is a wise ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial