The National Bank of Ukraine (NBU) recommends that Ukrainian banks do not increase deposit rates and be thoughtful about the interest policy, taking into account low inflation, the regulator said on its Facebook page on April 10.
“During March, some banks increased deposit rates by 1-1.5 percentage points, wanting to secure themselves from potential outflows of funds of depositors. However, there were no significant outflows in March. Funds in household accounts in banks increased from the beginning of March by Hr 13 billion as of April 9 (a rise of 4%) and fell slightly in U.S. dollars (by 2%),” the central bank said.
The regulator said that keeping high rates today is economically unviable.
The relevant topic was raised during two online meetings: first, the regulator’s board met with top managers of the country’s largest banks, and then with members of FLIFI (Forum of Leading International Financial Institutions), the NBU said.
