The Ukrainian central bank hiked interest rates again, by 100 bps to 14.5%, slightly more than analyst expectations. The bank said it will likely continue raising rates at future meetings, if inflationary pressures remain intact. Officials acknowledged that the ongoing war with Russia is hampering Ukraine’s recovery, with GDP growth expected to slow to 3.4% in 2024, down from 5.3% in 2023. The 2025 GDP forecast was lowered to 3.6% from 4.6%.