KYIV, Jan 29 – The refinancing rate hike shows the NBU remains focused on sustainably reducing inflation as part of its planned shift towards inflation targeting and commitment to preserving improvements in the country's macroeconomic and financial stability, Fitch Ratings analysts have said.

"Thursday's rate rise shows that the NBU remains focused on sustainably reducing inflation… An independent and credible monetary policy, together with the authorities' commitment to exchange rate flexibility, should support better macroeconomic performance, domestic confidence, and the economy's capacity to absorb shocks," Fitch said in a press release.