Ukraine’s central bank cuts rates to record low
Central bank says move was made possible by IMF aid and pledges further boost to reserves
Ukraine’s central bank cut its policy rate to its lowest-ever level, as inflation fell again and the International Monetary Fund formally agreed a large support package.
The National Bank of Ukraine’s monetary policy committee cut its key rate by 200 basis points on June 11, from 8% to 6%. This is its lowest level since Ukraine became independent from the Soviet Union in 1991.
Year-on-year inflation in Ukraine fell to 1.7% in May, the NBU announced on the same date, reaching its lowest year-on
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