reduction in aggregate demand resulting from reduced income and consumption has become one of the main reasons to reduce inflationary pressure in the first half of 2009, but further action of this factor can not have long-term positive results, reported on the website of the National Bank of Ukraine (NBU) .

In January-June 2009, real wages over the same period last year decreased by 10.1%. At the same time increased salary arrears, which amount in the first half of 2009 increased by 37,9%. Reducing inflation as a result of the deteriorating standard of living of citizens can not have a lasting benefit for the economy - the report indicates.

According to a report in the second quarter of 2009, the real and fiscal sectors of the economy there is still a tense situation that creates the appropriate risks to the monetary sphere and requires the National Bank of restrained monetary policy.

National Bank said that real GDP in the April-June decreased by 18% compared to the same period last year.

The main factors downstream of the dynamics of economic development in this period were deteriorating external economic environment (because of the negative trends in the global economy) and a substantial reduction in domestic demand, - stated in the message.

Thus, according to the report, there is a low level of investment activity: Investment in fixed capital in the first half of 2009 compared to the same period in 2008 decreased to 43.3%.

It was reported that inflation in Ukraine in January-July 2009 amounted to 8,5% (in July of deflation at the level of 0,1%), and for the past 12 months - 15,5%. The Government maintains an official inflation forecast for 2009 at 9.5%. However, the National Bank said that he intends to fight for the retention of the dynamics of consumer prices in the current year at up to 13%, which corresponds to forecasts by the International Monetary Fund.

After the rebound to a mark of 1.18 ruble RusHydro continues to move to the levels of the August lows
Analysis of the futures and options VTB
Index of the Frankfurt Stock Exchange Xetra DAX fell 23.56 points, the index of the London Stock Exchange FTSE 100 rose 1.36 points
Against the background of downgoing oil remains in the red oil and gas sector: Rosneft (-1.7%), Lukoil (-1.3%),
Fitch upgraded the ratings of VTB Georgia and assigned them to forecast Stable
Index of the Frankfurt Stock Exchange Xetra DAX fell 23.56 points, the index of the London Stock Exchange FTSE 100 rose 1.36 points
Raw assets remained under pressure against the trend received the care investors from the risk