The head of the NBU announced an increase in deposit rates in Ukraine.

The National Bank of Ukraine has halted the decline in interest rates on deposits and expects them to rise. This was reported by the head of the National Bank Andriy Pyshny during a monetary briefing. He noted that there was an increase in interest rates in January and believes that this trend should become more noticeable.

According to Pyshny, the increase in the key interest rate and the review of the operational design parameters create conditions for banks to make their interest offers more attractive to depositors.

New decisions include an increase in the spread between the key interest rate and the rate on deposit certificates by 1 percentage point and an increase in the spread between the key interest rate and overnight loan rates by 1 pp. Banks will also be given the opportunity to place funds in three-month deposit certificates depending on the results of the last 12 months.

These changes take effect on April 4. Pyshny hopes that these decisions will be appropriately received and that the deposits of Ukrainians and hryvnia assets will remain attractive for saving funds.