Ukraine’s central bank held interest rates steady and said borrowing costs will likely stay on hold until next year as the bank remains focused on inflationary pressure and the results of next week’s US presidential election. Given that inflation has not yet peaked and that pro-inflationary risks have risen for the coming months, the bank believes it appropriate to remain cautious. The bank’s inflation forecast rose to 9.7% in 2024 and 6.9% in 2025.