Page 31 - bne_newspaper_March_2_2018

Weekly Lists
March 2, 2018 www.intellinews.com I Page 31
bne:Credit Ukraine central bank
raises key rate to 17%
The National Bank of Ukraine (NBU) will increase its key policy rate by 1 percentage point (pp) to 17% from March 2, which is the fourth consecutive increase in the key policy rate.
The move is reasonable as inflation risks in Ukraine do not tend to subside, the regulator said in a statement published on March 1. "The hike is aimed at lowering headline inflation to meet the target over the medium term," the regulator added.
The NBU believes that after several policy rate increases, which began in October, 2017, the current monetary conditions "are sufficiently tight to bring inflation back to its mid-term target", as projected in the regulator's January inflation report.
"However, if fundamental inflation risks increase further, the NBU may resort to further key rate hikes," the central bank added. "The next key rate decision, which will be taken in April, will factor in new macroeconomic projections, inflation projections in particular".
Uzbekistan plans to sell between $200mn-300mn of Eurobonds in 2018 to create a benchmark for Uzbek corporate borrowers. The country named Raiffeisen Bank International as a potential issuer this year.
The plan marks Uzbekistan out as the third Central Asian
country to issue Eurobonds—the first to go ahead was oil-rich neighbour Kazakhstan, while Tajikistan made a $500mn debut last year. Uzbekistan last year began preparations to obtain a sovereign credit rating by signing a memorandum with Citigroup, noting that Citibank “will become [the country’s]” consultant. Raiffeisen Bank helped Tajikistan issue its first Eurobond, last September.
Uzbekistan plans first Eurobond