To kickstart Ukraine’s economic recovery, the central bank cut the prime rate by an unexpected 2 percentage points, to 6%, the lowest level since Ukraine won independence from the Soviet Union in 1991. It was the ninth straight cut in 14 months, a series that started in April of last year when the prime rate was 18%. Effective today, the new rate is below the 7% target rate the National Bank of Ukraine had set for the end of this year.
To kickstart Ukraine’s economic recovery, the central bank cut the prime rate by an unexpected 2 percentage points, to 6%, the lowest level since Ukraine won independence from the Soviet Union in 1991
