The main thing for Thursday: ECB rate, international reserves and deposit rates
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Hryvnia under 20%, dollar under “0”: how banks plan to change deposit rates
Banks are moving deposit rates up, especially this is noticeable on time deposits for a period of 3 months. What prompted them to do this and whether it will affect the volume of deposit portfolios, the Ministry of Finance found out.
The ECB raised the key rate for the seventh time
The European Central Bank (ECB) raised the key rate by 25 basis points — from 3.5% to 3.75% — at a meeting on Thursday, May 4. This is the maximum rate since 2008. The ECB raised lending rates for the seventh time in a row.
A record for the last 11 years: International reserves of Ukraine grew to $35.9 billion
As of May 1, 2023, according to preliminary data, international reserves amounted to $35.9 billion. This is an updated record level for the past 11 years. In April, reserves grew by 13% due to receipts from international partners, a further decrease in the volume of net sales of currency by the National Bank and moderate debt payments of the country in foreign currency.
How to change Ukraine and what reforms Ukraine needs after the war (video)
In this video, financial expert Alexey Kozyrev talks with Valentin Krasnoperov, the founder of the educational initiative “The Last Capitalist” about the following: the economy of Ukraine after the collapse of the USSR, how the economy of the “red directors” collapsed, what we need to do in order for the economy to work properly, what reforms Ukraine needs after the war, the most necessary reforms and what will happen with the dollar exchange rate.
Alexander Kulikov: It will no longer be possible to trade incognito on European crypto exchanges
The European Parliament adopted a law on the legalization and regulation of crypto-assets in MiCA. Thanks to this, the EU will become the first major jurisdiction where the rules for trading in virtual assets are defined. The Deputy Chairman of the Council of the Professional Association of Capital and Derivatives Market Participants (PARD) Oleksandr Kulikov told the “Ministry of Finance” what the market is preparing for, what shocks await investors and when similar rules will work in Ukraine.
Source: Ministry of Finance
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