Ukraine sharply hiked its main interest rate to 25% from 10% on Thursday, tightening monetary policy for the first time since the Russian invasion to tackle double digit inflation and protect incomes and savings during the war.

Ukraine had frozen its key interest rate at 10% following Russia's invasion on Feb. 24 despite surging inflation, citing the high level of uncertainty and limited effect of monetary transmission in wartime. (Reporting by Natalia Zinets; writing by Matthias Williams; Editing by Jon Boyle)


Reuters