The NBU cuts the key policy rate for the first time since December: to 14.5%
Kyiv • UNN
The National Bank of Ukraine cut its key policy rate by 0.5 percentage points to 14.5% effective March 15, 2024, resuming the interest rate easing cycle for the first time since December 2023.
The National Bank of Ukraine has cut its discount rate by 0.5 percentage points to 14.5% effective March 15, 2024, the NBU said on Thursday, UNN reports.
Details
"The Board of the National Bank has decided to cut the key policy rate from 15% to 14.5% starting March 15, 2024," the statement said.
As noted above, a further slowdown in inflation, a stable FX market, and positive developments in foreign aid receipts provide grounds to resume the interest rate policy easing cycle earlier.
It is noted that the NBU will continue the cycle of interest rate policy easing, provided that risks to inflation and exchange rate stability are sustainably reduced.
Addendum
The decision to cut the NBU's key policy rate was made for the first time since December 2013.
