KIEV, Nov. 13 – The National Bank of Ukraine has increased its discount rate from 12.5% to 14% effective November 13.

"The NBU board passed resolution No. 719 of November 12, 2014 on the regulation of the monetary and credit market, which foresees setting a 14% discount rate from November 13, 2014," reads the report.

NBU reminded that the 12.5% discount rate was in effect from July 17, 2014.

According to the report, consumer price index in annual terms grew to 19.8% in October 2014: inflation accelerated due to the increase in the regulated prices and tariffs (by 25.8% in annual terms) and due to the devaluation of the hryvnia exchange rate to the U.S. dollar, being 58.9% in January-October 2014.