REUTERS
The last time the rate was lowered in September 2019.
The National Bank of Ukraine (NBU) has lowered its key policy rate again as part of further steps to liberalize monetary policy.
As of October 25, its refinancing rate will be reduced by 1 pp, to 15.5% per annum after its cut in September to 16.5% per annum.
The NBU says that in September, consumer inflation in annual terms slowed to 7.5% and was below the forecast thanks to the tight monetary policy pursued by the central bank.
The regulator expects inflation to continue to slow down to a target indicator of 5%, including 6.3% at the end of this year, with a balanced fiscal policy, relatively low energy prices on world markets and an increase in food supply due to increased agricultural production.
As UNIAN reported earlier, the NBU in September 2019 lowered its key policy rate to 16.5% per annum after its cut to 17% in July 2019. According to the NBU's current base-case scenario, the rate is expected to decrease to 16% per annum in the fourth quarter of 2019, further to 9.5% in the fourth quarter of 2020 and to 8% in the fourth quarter of 2021.