Ukraine monetary base jumps 3.7% in June

2017/7/12 23:41:45

Analyst: “In September, we see traditionally stronger budget outlays taking the lead. For 2017, we project an 8.6% YTD monetary base increase.”

 


KYIV, July 12, 2017 - Ukraine's monetary base jumped 3.7% mm in June after no growth in the prior month, Concorde Capital informed clients today based on a National Bank of Ukraine (NBU) report of July 11. Since the year's start, the monetary base is unchanged. Money supply dipped 1.3% mm (no net change since December) from a 0.1% decline in the prior month.

 

Concorde analyst Alexander Paraschiy added: “NBU interventions at the ForEx were the main source for money formation in June as the NBU purchased USD 300 mln on the market. In the meantime, residuals at treasury accounts remained almost unchanged, increasing 3%.

 

“This tendency of purchasing excessive foreign currency at the ForEx will sustain itself till the summer's end. In September, we see traditionally stronger budget outlays taking the lead. For 2017, we project an 8.6% YTD monetary base increase.”

 

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For more information, link here: www.concorde.ua 

 

 

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