Photo from UNIAN
On January 31, the regulator cut the key rate by 2.5 percentage points to a three-year low of 11% per annum.
Ukrainian Minister for Development of Economy, Trade and Agriculture Tymofiy Mylovanov believes that in the current conditions the National Bank of Ukraine (NBU) has every reason to reduce its key policy rate to 7% before the middle of 2020, rather than at the end of the year the regulator projected earlier.
"According to the National Bank's forecast, the level [of the key rate] may reach 7% by the end of the year. We believe that in the current macroeconomic situation it is realistic to reach that rate in the middle of the year. If the key rate is 7%, we can talk about capital market," he said at a meeting of the parliamentary Committee on Economic Development on February 20.
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As UNIAN reported earlier, on January 31, the National Bank continued easing its monetary policy, cutting the key rate by 2.5 percentage points to a three-year low of 11% per annum.
The regulator also plans to accelerate the key rate lowering to 7% at the end of 2020 from 9% projected earlier.