Ukraine’s prime interest rate could fall 7% next summer – six months ahead of schedule

Ukraine’s prime interest rate could fall 7% next summer – six months ahead of schedule, Economy Minister Timofei Milovanov told the Rada Economic Development Committee on Thursday. On March 12, at the next meeting of the National Bank of Ukraine Board, the prime rate could be cut by 200-250 basis points. After the Jan. 31 cut of 250 basis points, prime is 11% — more than triple the inflation rate of 3.2%. At that meeting, Yakiv Smolii predicted that the prime rate at year’s end will be 7%.