Ukraine’s central bank unexpectedly cut the prime rate by two percentage points, to 8% — the lowest level in six years.

Ukraine’s central bank unexpectedly cut the prime rate by two percentage points, to 8% — the lowest level in six years. “Our goal is for banks to be able to help the Ukrainian economy get back on its feet as soon as possible after the quarantine is over,” Yakiv Smoliy, governor of the National Bank of Ukraine, told reporters yesterday. This is the seventh cut in the row since the central bank started cutting last spring, from 18%. With today’s cut, the central bank is within striking range of its year end goal of 7%.