- Ukraine’s central bank increased interest rates by more than doubling them.
- Double-digit inflation and defending the country’s currency.
On Thursday, Ukraine’s central bank increased interest rates by more than doubling them, from 10% to 25%, marking the first hike since Russia invaded the nation on February 24.
Read more: Inflation and the Ukraine war have slowed India’s economic growth to a one-year low.
Kyrylo Shevchenko, the governor of Ukraine’s central bank, made the step in an attempt to curb double-digit inflation and defend the country’s currency.
Read more: Russian central bank slashes rate to rein in ruble