Effective today, the central bank cuts its prime interest rate by a whopping 200 bps, to 13.5% from 15.5% — twice deeper than forecast by a Bloomberg poll of economists. The cut, the fourth this year, was prompted in part by November’s 5.1% annual inflation figure, almost half the level of one year ago. Prime now recedes to the level of two years ago. By this time next year, the National Bank of Ukraine aims to cut this key index to 8%.
Effective today, the central bank cuts its prime interest rate by a whopping 200 bps, to 13.5% from 15.5% — twice deeper than forecast by a Bloomberg poll of economists.
