UAH trades flat ahead of key rate increase

UAH trades flat ahead of key rate increase



13 листопада 2014 года
ICU

The hryvnia traded flat yesterday most likely due to a rumor that the NBU would make new measures to stem pressure on the currency, including an increase of the key rate. The currency's significant decline over the course of this week from 12.95/USD to 15.85/USD that resulted from the NBU's departure from the peg was quite steep. As it announced earlier this week its readiness to take action to counter aggressive market behavior, the NBU yesterday raised its base rate to 14.0% from 12.5%. In our view, this decision is logical and probably overdue. When the next inflation statistics report is published on December 6, the NBU could appear under pressure again to raise the rate more if CPI continues to rise.

Источник: ICU

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