Ukraine. NBU to reduce discount rate to 17.5%

The National Bank of Ukraine (NBU) has decided to reduce the discount rate to 17.5% per annum from April 26.

NBU Governor Yakiv Smolii said this at a briefing on Thursday, according to an Ukrinform correspondent.

"The Board of the National Bank has decided to reduce the discount rate to 17.5% per annum from April 26, 2019," Smolii said.

He noted that at present, a steady trend toward slowing inflation to the 5% target allows the National Bank to start a cycle of lowering the discount rate.

The discount rate currently stands at 18%.

Ukrinform