Ukraine's National Bank held its benchmark interest rate unchanged at 15.5% while revising down economic projections, citing war-related damage and weaker harvests, the bank said on July 24. The regulator now expects core inflation,

In a statement, it said Ukraine's economic growth would slow to 2.1% this year compared with 2.9% in 2024. The central bank previously predicted 2025 economic growth at 3.1% but cut its forecast due to more intense Russian attacks in recent months.

Falling inflation has persuaded the central bank in Moscow to continue relaxing the country’s record borrowing costs.