KYIV, March 1 – The National Bank of Ukraine (NBU) has decided to toughen the monetary policy and increased the refinancing rate to 17% from March 2 from 16%.

According to a posting on the website of the central bank, decision No. 133-rsh on the size of the refinancing rate was approved by the NBU Board on March 1.

"Inflation risks, which NBU mentioned in January, while approving the previous decision on the refinancing rate, are still relevant," the National Bank in a press release posted on its website.