Ukraine's central bank kept its main interest rate unchanged at 25% on Thursday, but said that economic risks remained elevated following a series of Russian missile attacks on the country's energy infrastructure.
The interest rate has been at 25% since June and central bank officials have repeatedly said they aim to keep it at that level until 2024. The central bank also said consumer inflation sped up to 26.6% in October year-on-year.
The statement released after the central bank's final monetary policy meeting this year said continued international financing was a key prerequisite for economic stability. The level of international financial aid will reach $31 billion this year, the central bank said.
"The main risks for economic development are a longer period of full-scale military aggression by Russia, as well as a further increase in terrorist attacks against critical infrastructure facilities," the statement said.
The central bank's current forecast sees Ukraine's GDP falling by 31.5% this year. The bank expects the economy to return to growth in 2023 with GDP rising by 4%.
The International Monetary Fund expects Ukraine's GDP to fall by 35% this year and that the economy will stabilize next year.
The central bank also said it was increasing obligatory reserve requirements for commercial banks by five percentage points.
