The National Bank of Ukraine (NBU) is actively working on stabilization of the country's foreign exchange market, using existing tools, including international reserves. Given the high level of inflation, these steps are important for reducing inflation pressure in the economy.
The NBU Deputy Chairman Sergey Nikolaychuk told this during his interview on Inter TV. According to him, the Central Bank is actively working on inflation forecast and takes the necessary measures to control it. The NBU made a forecast for inflation, according to which the peak inflation values will be reached in the spring of 2025, after which inflation will gradually decline. At the end of 2025, the inflation rate is estimated to be about 7%, and in 2026, the Central Bank plans to reach a target of 5%. This will reduce the pressure on the economy and improve the financial situation in the country. There are several key factors that should help reduce inflation pressure: the best crop crop is expected in 2025, since adverse weather conditions are rarely repeated for two consecutive years. This will reduce food prices and facilitate inflation. Reducing the costs of enterprises, in particular, wages and energy, should have a positive effect on reducing the cost of goods and services, which will reduce inflation pressure on the market. The NBU is working on the stability of the foreign exchange market, using international reserves and pursuing the necessary interest policy to reduce inflation. These measures should help maintain the stability of the national currency and the stability of the economy.
Banks of Ukraine can reduce the interest rates on deposits only if inflation really begins to slow down. The banking system feels pressure on rates due to high inflation, so reducing rates will be possible only after a steady decrease in prices.
The National Bank of Ukraine plans to continue work in the direction of inflation, which should have a positive impact on the country's economy and provide more stable financial conditions for citizens and businesses.
