Daily Insight-NBU reiterates price stability issue; steel output growth estimates raised; Kyiv\'s new Eurobond issue

One of the NBU\'s officials, Elena Scherbakova, the Director of the General Department of Monetary Policy of the bank, stated once more yesterday that the central bank will keep to its policy of achieving price stability. She added that the NBU is going to stick to a tight monetary policy and cap any liquidity hikes in order to achieve this.

In other news, as reported by Interfax Ukraine, the same official said that the NBU sold US$100m on 24 May in the interbank market, in order to satisfy the excessive demand for the foreign currency. This was a move on the part of the central bank to soften excessive fluctuations of the UAH/USD exchange rate. Ms Scherbakova also mentioned that the market did not experience a big difference in terms of movement of the currency rate after the NBU\'s decree liberalising the currency market took effect as of 20 May, allowing banks to sell and buy currency on the same day.