Ukraine central bank held its key policy rate steady at 25% to curb high inflation and maintain currency stability. Despite the ongoing full-scale war and other domestic challenges, inflation has slowed due to increased food and fuel supplies, a stronger hryvnia, and improved price growth expectations. However, the impact of the Kakhovka HPP explosion is projected to add 0.3 pp to this year’s inflation rate, which stood at 15.3% YoY in May.