At a briefing, National Bank of Ukraine Governor Andriy Pyshnyy said that the NBU has decided to cut the discount rate (refinancing rate) to 14.5%, Ukrinform reports.
"The Board of the National Bank of Ukraine has decided to cut the discount rate to 14.5% starting from 15 March 2024," Pyshnyy said.
The reasons for this decision were, according to him, a further slowdown in inflation, a stable situation in the foreign exchange market, as well as positive developments in obtaining foreign aid.
In particular, according to the NBU, inflation slowed to 4.3% year-on-year in February. This was driven, among other things, by a greater supply of certain food products and the effects of last year's bumper harvest. Core inflation also decelerated to 4.5% year-on-year.