NBU holds prime rate at 15.5% as easing delayed pending inflation peak

UKRAINE - In Brief 05 Jun 2025 by Dmytro Boyarchuk
As expected, the NBU’s April signal about possible easing moves in June did not materialize. At today’s meeting, the NBU Board kept the prime rate unchanged at 15.5%. The decision was influenced by unseasonably cold spring weather, which led to rising food prices—particularly for fruits and vegetables—expected to be reflected in the May inflation figures. In its press release, the NBU emphasized that the prime rate will remain at its current level for as long as necessary. Any potential easing will be considered only after inflation is confirmed to have passed its peak. The central bank is hopeful that the arrival of new crops will help curb inflationary pressures. However, it also acknowledged that recent unfavorable weather conditions could undermine this scenario. The next NBU Board meeting is scheduled for July 24, by which time a clearer picture of food inflation prospects for the second half of 2025 should emerge.

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