Ukraine. National Bank expects inflation to fall to 5% by end of 2014
2012-03-03 12:03:26
The National Bank believes that Ukraine has economic grounds to expect reduction in inflation rates to 5% by 2014, Director of the NBU General Economic Department Ihor Shumylo has said, the press service of the regulator informs.
"I am completely convinced that there is possibility for Ukraine to have inflation lower against an index planned by the government at 7.9% and to gradually reduce core inflation in order to have inflation at 5% by 2014," he said.
Shumylo also underscored that the current hryvnia rate is the market rate, since now the NBU uses a mechanism of interventions for its support.
"You can observe the situation on the cash market now, on the interbank currency market. The rate which is determined is the market rate. It is determined by way of demand and supply," he said.
As it was reported, consumer inflation in 2011 will slow down to 8.9%, whereas in the current year it is expected at13.1%.