Ukraine's central bank keeps interest rate at 7-year high

ANKARA

Ukraine's central bank on Thursday hold its key policy rate unchanged at a seven-year high for the third consecutive meeting.

"As the inflation dynamics are close to the forecast and the balance of risks is skewed upward over the policy horizon, the National Bank of Ukraine Board decided to keep the key policy rate at 25%," the bank said in a statement.

The rate is expected to be maintained at 25% at least until the second quarter of 2024, it noted.

Driven by the war, Ukraine's annual consumer inflation rose to 24.6% in September.