Rate Cut to 8% from 10% at National Bank of Ukraine
April 23, 2020
The National Bank of Ukraine slashed its policy interest rate by four times the expected amount to 8.0% from 10%, bringing the total reduction from the three cuts this year to 450 basis points. The rate, which had crested at 18.0% from September 2018 to April 2019, is now at its lowest since March 2014. Officials in a released statement projected the key rate would likely fall at least another full percentage point later this year and maybe by more if necessary. They anticipate real GDP contracting around 5% this year and inflation ending the year at about 6%.
Copyright 2020, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: National Bank of Ukraine
ShareThis
