Published: 2024-04-25 17:25
Photo by Vadim Ghirda (Scanpix).
The National Bank of Ukraine cut the key interest rate by one percentage point to 13.5% on Thursday, extending the monetary policy easing campaign launched last July.
The regulator announces that it has taken such a decision in the context of the slowdown of inflation and the weakening of its expectations, stability in the country’s currency market, after concerns about a possible decrease in financial support from the West have faded.
Annual inflation in the country slowed down in March to the lowest since October 2020 – to 3.2%.
The Bank of Ukraine cut economic growth forecasts for this year and next year, worsened inflation forecasts.
The forecast for the growth of the country’s gross domestic product has been reduced from 3.6% to 3.0% this year, and from 5.8% to 5.3% in the coming years.
The inflation forecast for 2024 has been raised from 8.2% to 8.6%, for 2025 – from 5.8% to 6%.
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