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Date: 9 months ago   Category: Economics

The NBU in September can already raise discount rate at least to 18%

The National Bank of Ukraine (NBU) can raise in September discount rate at least to 18%.

are So considered by the bankers interviewed by the agency "Interfax Ukraine ".

"Discount rate in September can grow by 0,5%. Increase in discount rate will promote indirectly release of pressure for hryvnia. After increase in discount rate deposit and credit rates can grow by 0,5%", the chairman of the board of RVS of Bank Vladislav Kravets has told.

the Head of department of financial department of Ukrgazbank Victor Pasternak also believes that the NBU will raise discount rate in September.

"The National Bank of Ukraine can raise discount rate to 1%. Seasonal devaluation of hryvnia is now observed that, in turn, influences inflation, and increase in discount rate of the NBU influences inflation control" — he has told.

according to V. Pasternak, increase in discount rate increases hryvnia cost, but won't exert direct impact on a rate of hryvnia.

the Head of department of work with investors of Credit Dnieper bank Andrey Prikhodko also predicts growth of discount rate.

"Deterioration in financing terms for Ukraine against the background of acceleration of devaluation in August creates prerequisites for increase in discount rate. Therefore small increase in discount rate is quite possible. The tough monetary policy will increase profitability and appeal of hryvnia tools that has to reduce pressure upon a course (hryvnias) and inflation. Growth of discount rate will directly affect the yield on the OVDP and deposit certificates, influence on rates on deposits and the credits will be more mediated and with a certain temporary log" — he has told.

of A. Prikhodko has also noted less favorable conditions for attraction of financing by the country in comparison with last year. "If last year Ukraine has attracted $3 billion from placement of 15-year eurobonds at the rate of 7,375%, then this year it was succeeded to attract the sum four times smaller ($725 million) only for a year and under 9,1%. We see obvious deterioration in financing terms for Ukraine. Trade wars, geopolitical tension, toughening of monetary policy of U.S. Fed and expectation of delay of world economy have led to outflow of investors from emerging markets, the situation in the capital markets has worsened, including for Ukraine. In the second half of year falling of interest of nonresidents in internal bonds of Ukraine is also noticeable. The portfolio of the OVDP of nonresidents was reduced almost twice from 14,6 billion UAH by the end of the first quarter 2018 to 7,5 billion UAH at the moment" — he has told.
the Chairman of the board Pireus Banca Sergey Naumov also believes that discount rate can slightly grow in September.

"In spite of the fact that inflation was slowed down in the summer of the current year, inflationary expectations are still high. We enter the autumn period when the exchange rate and probability increase in tariffs for gas for the population seasonally grows is high. Therefore I believe that the NBU can consider once again increase in discount rate, but I don't think that кардинальн


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