Ukraine’s central bank will raise its benchmark refinancing rate to 30 percent from 19.5 percent, the head of the central bank said on Tuesday, as the bank tries to rein in rocketing inflation and persistent currency weakness.
The hryvnia has halved in value so far in 2015, having weakened 50 percent last year, and is at record lows below 30 to the dollar after a year of political upheaval and conflict that has pushed the ex-Soviet republic to the brink of bankruptcy.
The new interest rate, which comes into effect on Wednesday, is the highest for 15 years.
via CNBC
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