Friday, July 18, 2014

Ukraine hikes key rate to highest level in decade - Yahoo News

Kiev (AFP) - Ukraine's central bank announced plans Wednesday to set its highest discount rate in more than a decade to rein in soaring inflation and calm investors who are taking their money abroad.

The surprise decision to raise the main lending rate to 12.5 percent from 9.5 percent effective Thursday comes just weeks after the economy skirted imminent bankruptcy thanks to the promise of immediate international aid.

But an escalating pro-Kremlin insurgency in Ukraine's economically vital eastern industrial basin appears to have to have scared Western investors and put pressure on the ex-Soviet country's currency.

The National Bank of Ukraine (NBU) said consumer prices could grow by 17 percent on an annualised basis this year.

It noted that the rate had jumped to 12.0 percent in June from 0.5 percent in January -- a month before the ouster of a Moscow-backed leader prompted Russia's seizure of Crimea and encouraged the separatist revolt.

Complete story at - Ukraine hikes key rate to highest level in decade - Yahoo News

No comments:

Post a Comment

All comments subject to moderation.

Recommended Reading via Amazon

If you're seeking more information about how the world really works, and not how the media would want you to believe it works, these books are a good start. These are all highly recommended.

If you don't see pictures above, you likely have an adblocker running.  If so, here are the links.

1. The Shock Doctrine - Naomi Klein
2. Confessions of an Economic Hit Man - John Perkins
3. Manufacturing Consent - Edward Herman, Noam Chomsky
4. Gladio - NATO's Dagger at the Heart of Europe - Richard Cottrell
5. Profit Over People - Noam Chomsky
6. Soviet Fates and Lost Alternatives - Stephen Cohen
7. The Divide - American Injustice in the Age of the Wealth Gap - Matt Taibbi

How this works.  Follow one of the links.  Should you decide to buy that item, or any item, I get a small percentage, which helps to maintain this site.  Your cost is the same, whether you buy from my link or not.  But if the item remains in the cart too long, I don't get a thing.  
Related Posts Plugin for WordPress, Blogger...