Photo from UNIAN
The National Bank of Ukraine (NBU) has decided to reduce the discount rate by 1 percentage point, or down to 14% per annum from October 28, the NBU told UNIAN.
"The Board of the National Bank of Ukraine has decided to lower the discount rate to 14% per annum from October 28," the NBU said.
According to the regulator, the decision on the easing of monetary policy was made possible due to a further weakening of inflationary pressures under the influence of fundamental factors.
Read alsoNBU Governor considers "realistic" forex rate of UAH 27.2 to dollar in 2017"Further easing of monetary policy is caused by the reduction of risks to price stability and is agreed on the need to achieve the objectives of inflation in 2017-2018 years," the report says.
As UNIAN reported earlier, on September 16, the NBU set the discount rate at 15% per annum, lowering the rate for the fifth month in a row.
Read alsoTransfer of NBU's UAH 38 bln to budget-2016 won't affect hryvnia exchange rate – GroysmanThe maximum discount rate at 30% per annum was in force from March 4 to August 28 2015.
Inflation in Ukraine in September compared to the same month of the previous year slowed down to 7.9% after 8.4% recorded the previous month.
The National Bank of Ukraine predicts consumer inflation in Ukraine at the end of 2016 at the level of 12% +/- 3 percentage points.