The announcement comes after inflation rose more than expected in August, to 8.1 percent, and the central bank in Kyiv expects continued price increases in the coming months.
Shortly before Russia launched its full-scale invasion of Ukraine in February 2022, the country's key interest rate was raised to 25 percent, up from 10 percent. After a series of interest rate cuts in the autumn of 2023, the country's key interest rate has fluctuated between 13 and 16 percent.
