August 10, 2018 / 1:32 PM / 2 months ago

Ukraine's central bank says able to contain inflation in H2 2018

KIEV, Aug 10 (Reuters) - The Ukrainian central bank said on Friday its monetary policy is tight enough to prevent annual inflation increase in the second half of the year.

“Monetary conditions are sufficiently tough to ensure that consumer inflation will be in line with the National Bank’s forecast - 8.9 percent year-on-year at the end of 2018,” the bank said in a statement.

Ukraine’s annual inflation slowed to 8.9 percent in July from 9.9 percent in June and 13.7 percent at the end of 2017, the State Statistics Committee reported on Thursday.

The central bank unexpectedly raised its main interest rate to 17.5 percent from 17 percent in June, warning that a number of factors could pose a threat to inflation decreasing to the target level. (Reporting by Natalia Zinets)

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