In the first interest cut in two years, the central bank reduced the prime rate to 17.5%, from 18%, effective today.

In the first interest cut in two years, the central bank reduced the prime rate to 17.5%, from 18%, effective today. “Currently, a steady downward trend in inflation towards the 5% target allows the National Bank to begin the cycle of reducing the discount rate,” Yakiv Smoliy, governor of the National Bank of Ukraine, told reporters Thursday.