Ukraine cuts rates as inflation falls

Central bank is positive over foreign aid but says economic damage from war could worsen

The National Bank of Ukraine
The National Bank of Ukraine
Photo: Oksana Parafeniuk

The National Bank of Ukraine’s (NBU) board cut its policy rate by 100 basis points today (April 26), expressing confidence about external aid and falling inflation.

The NBU board cut the rate to 13.5%, its lowest level since Russia invaded Ukraine in February 2022. It said it had opted to continue easing due to “a decline in actual and expected price pressures and lower risks to inflows of international financial support”.

Headline inflation fell to 3.2% year on year in March, below the NBU’s

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