July 12, 2018 / 11:12 AM / 8 months ago

Ukraine central bank raises key rate to 17.5 pct from 17 pct

KIEV, July 12 (Reuters) - The Ukrainian central bank (NBU) raised its main interest rate to 17.5 percent from 17 percent on Thursday, warning that slow reform progress under a $17.5 billion International Monetary Fund loan programme was a key risk to economic stability.

“The NBU believes that a number of factors can pose a threat to inflation decreasing to the target level – namely, a continued pickup in domestic demand, active labour migration, (and) higher risks to receiving the next tranche from the International Monetary Fund,” the bank said in a statement.

The rate increase takes effect on Friday. (Reporting by Natalia Zinets Writing by Alesandra Prentice; editing by Matthias Williams and Gareth Jones)

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