The National Bank of Ukraine has not changed the discount rate since June 2022. Today, like the entire previous year, it is 25% per annum. From the beginning of 2023, inflation in Ukraine was declining, however, a high discount rate, as one of the tools to curb inflation, will have a positive effect on the growth of hryvnia deposit rates and the foreign exchange market.
The National Bank predicts a slowdown in inflation to 14.8%, and a reduction in the foreign exchange rate, presumably, will start this winter.
It is worth noting that the NBU revised its forecast for economic growth in 2023 from 0.3% to 2%.