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