Ukraine's central bank raises key refinancing rate to 19.5%

A Ukrainian national flag flies outside the Ukraine central bank in Kiev, Ukraine.
Vincent Mundy | Bloomberg | Getty Images
A Ukrainian national flag flies outside the Ukraine central bank in Kiev, Ukraine.

Ukraine's central bank will raise its key interest rate to 19.5 percent as of February 6 from the current level of 14 percent set in November to combat inflation, the central bank said on Thursday.

The bank said in a statement that it was also cancelling sales of dollars from its reserves at daily auction.