The National Bank lowered the discount rate to 17.5%

The National Bank lowered the discount rate to 17.5%

The Board of the National Bank decided to reduce the discount rate to 17.5% per annum from April 26, 2019. Now, the persistent tendency to slowing inflation targeting a 5% rate allows the National Bank to begin a process of decreasing the interest rate.

The reduction of the discount rate to 17.5% was adopted by the decision of the Board of the National Bank of Ukraine of April 25, 2019, No. 311-rsh “On the size of the discount rate”.

Starting the cycle of reducing the discount rate, the Board notes that further steps will depend on the realization of inflation risks and the improvement of inflation expectations.

The next meeting of the Board of the National Bank of Ukraine on monetary policy will be held on June 6, 2019, in accordance with the approved and published schedule.

The discount rate of 18% per annum was introduced on September 7.