Ukrainian central bank cuts rates as inflation falls within target range

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

Ukraine’s monetary policy committee cut rates by 250 basis points on January 30, saying inflation had fallen within its target range much earlier than expected.

The National Bank of Ukraine’s rate-setting body lowered the benchmark rate to 11%, its sharpest cut since 2016. Year-on-year inflation has fallen for five consecutive months in Ukraine, reaching 4.1% in December from 9.1% in July.  

The NBU issued an optimistic assessment of Ukraine’s macroeconomic prospects. But it warned that these

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