Ukraine central bank to raise key rate sharply to 12.5 percent

KIEV, July 16 Wed Jul 16, 2014 5:05am EDT

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KIEV, July 16 (Reuters) - Ukraine's central bank said on Wednesday it would raise its key refinancing rate from 9.5 percent to 12.5 percent from July 17.

The bank said the rise, the second this year, was due to a rise in inflation which in June, year on year, was at 12.0 percent, up from 10.9 percent the previous month. (Reporting by Natalia Zinets; Writing By Richard Balmforth, editing by John Stonestreet)