KYIV, April 8 – Ukraine’s inflation was higher-than-expected in the first quarter, but the National Bank of Ukraine (NBU) has kept unchanged its inflation target of 5% plus/minus 1 p.p., NBU Governor Kyrylo Shevchenko said.

The NBU if necessary, may resort to hiking refinancing rate to curb inflation increase, but that scenario is yet less likely, he said.

"Our task is to return inflation to the target that we have planned - this is 5% plus/minus 1 p.p. If the NBU needs to raise the interest rate in order to achieve this goal, we are absolutely ready to do it," he said in an exclusive interview with the Interfax-Ukraine agency.