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Ukraine eases monetary policy

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Ukraine eases monetary policy
April 23
13:00 2020

The National Bank of Ukraine has taken an important decision for the country: from Friday (April 24) there will be a new value of the discount rate. It will change from 10% to 8% per annum.

The NBU has issued a press release from which it became known that the regulator had been forced to take such a decision in order to support national business in a difficult period. Representatives of the National Bank said that that measure was part of a large-scale package. Officials believe that the steps taken will not only help support the population and business, but also help restore business activity after the quarantine is over.

This year, the rate reduction has been recorded three times. We recall that on January 31, the indicator was reduced from 13.5% to 11% per annum; in mid-March, the NBU decided to reduce the rate by another 1% to 10% per annum.

The National Bank of Ukraine has kept the forecast for the discount rate at the end of the current year; it is assumed that it will be equal to 7% per annum. However, the NBU admits that further easing of monetary policy is likely.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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