Moderate Ukraine central bank rate cut expected next week: Reuters poll
Lower-than-expected inflation and a slowing economy will prompt Ukraine's central bank to cut its key rate for the sixth time in a row next week from the current level of 11%, a Reuters poll of analysts showed on Thursday.
The cut would not be as steep as January's 2.5 percentage points due to a delay in the approval of a new loan program from the International Monetary Fund, the majority of the poll respondents said, according to Reuters.
"The rate reduction will be more restrained (in coming months) if the situation with the spread of the coronavirus and the signing of a new program of cooperation with the IMF continues to develop according to a pessimistic scenario," said analysts of Raiffeisen Bank Aval.
Nine out of 16 analysts forecast a rate cut to 10% at the next rate-setting meeting on March 12. Three see a reduction to 10.5%; one person expects 9.5% while the other three respondents believe the rate will remain unchanged.