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        While all committee members agreed about the need for further monetary softening, their opinions on cutting the key policy rate ranged. Three members were for cutting the key policy rate by 1.0pp, two members spoke for a 1.5pp cut, and four members insisted on a 2.0pp cut. Finally, one member was for a radical cut by 2.5pp to 7.5%.
The committee members believe that the current weakness of consumer demand is underestimated, and this is resulting in a further slowdown of consumer inflation​. The key policy rate cut by 2.0pp should be an adequate action to demonstrate that the NBU is ready to stimulate economic growth by monetary tools.
The committee members currently have different visions regarding the key policy rate forecast. Three members believe that the key policy rate should stay at 8.0% through the year end. Two members are sticking with the previous forecast, which assumes that the key policy rate will be at 7.0% at the year end. Five members would let the key policy rate to go below 7.0% by the end of 2020.
   8.4 ​International ratings
   Ukraine - Rating agency
     as of May 28, 2020
  last change
   Moodys (USD rating)
      Caa1 (S)
   21/12/18
   Fitch (USD rating)
      B (S)
   24/04/20
 S&P
  B (S)
   27/09/19
 53​ UKRAINE Country Report​ June 2020 ​ ​www.intellinews.com
 

















































































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