NBU to reduce key policy rate to 15% per annum by late 2019 – banker

In terms of profit, this year should be about the same as the previous one, the banker said.

!!!!!!!!!!!!!!!! UAA1 !!!!!!!!!!!!!!!

The National Bank of Ukraine (NBU) will gradually reduce the key policy rate to 15% per annum from the current 18% by late 2019.

Read alsoUkraine's public debt servicing costs more than triples in five years

"The economic growth in Ukraine will be about 3%, inflation 7.7%, the key policy rate will be gradually reduced to 15% by the end of the year, the hryvnia forex rate will be about UAH 28-30 to the dollar, and wages will grow by 15%," OTP Bank Chairman of the Board Tamas Hak-Kovacs said in an interview with UNIAN.

According to his forecasts, the growth of consumer lending in the banking system of Ukraine will be about 40% and corporate - at 11%.

"In terms of profit, this year should be about the same as the previous one. Four or five banks account for 75% of the profit system on the market, and we are among them. But 2020 will be much more difficult," Hak-Kovacs added.

As UNIAN reported earlier, the Board of the National Bank of Ukraine (NBU) on March 14 decided to keep its key policy rate at 18.0% per annum.

!!!!!!!!!!!!!!!!!!!!!!!! UAA2 !!!!!!!!!!!!!!!!!!!!!