Rates round-up: Ukraine cuts rate for first time since invasion

Thailand, Egypt and North Macedonia tighten policy; Georgia joins Ukraine in easing

The National Bank of Ukraine
Oksana Parafeniuk

Ukraine: Citing rapidly falling inflation, the National Bank of Ukraine (NBU) cut its policy rate on July 28 for the first time since the Russian invasion in February 2022.

The central bank cut 300 basis points from the policy rate, setting it at 22%. It had held the rate at 25% since June 2022.

In its statement, the monetary policy committee said it relaxed policy “in view of the faster-than-expected decline in inflation”. It also cited the strong reserve position and “long-lasting stable

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