Ukraine central bank cuts policy rate sharply

The National Bank of Ukraine
The National Bank of Ukraine
Oksana Parafeniuk

Ukraine’s central bank has cut policy rates for the third time this year, saying it expects to make further cuts to cushion the coronavirus pandemic’s impact.

The National Bank of Ukraine’s board cut its policy rate by 200 basis points from 10% to 8% on April 23. It said in a statement that it expected to cut the policy rate to 7% “in the current year”. But the board also said it could cut the rate even further if Ukraine’s lockdown puts “stronger downward pressure on inflation than is

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