off-the-wire

UPDATE 1-Ukraine's central bank keeps key rate at 25%

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds comment) LONDON, April 27 (Reuters) -


Ukraine's central bank said on Thursday it would keep its main rate unchanged at 25% due to considerable inflation pressure and security risks.


The central bank said it had revised its forecast for gross domestic product growth up to 2% for 2023 from its previous target of 0.3%.


It also said inflation was slowing faster than expected so far this year. The central bank expects inflation to slow to 14.8% this year and continue to slow further to a single-digit number in 2024 and 2025.


The central bank also indicated it could start cutting its main rate from the fourth quarter of the year.


"The longer duration and intensity of the full-scale war remain the key risk to this forecast," the bank said in a statement.
(Reporting by Olena Harmash, editing by Elizabeth Piper)

Messaging: elizabeth.piper.thomsonreuters.com@reuters.net))
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