Page 46 - UKRRptApr20

8.2 ​Central Bank policy rate
The National Bank of Ukraine (NBU) cut rates for the sixth time on March 12 with another full percentage point cut to 10% ​as it continues its easing in an effort to stimulate economic growth.
The central bank hopes to bring the key rate down to 7% by the end of this year.
The NBU successfully defeated inflation in 2019 after battling with prices rises in the double digit for much of the last five years. Inflation rates fell into in the single digits at the start of last year, but the regulator still maintains some of the highest real interest rates in Europe to keep inflation at bay. Inflation was 2.4% in January, clearing the way for yet another big rate cut this month.
The NBU has switched priorities from controlling prices to moving to boost growth, which has disappointed this year. The NBU said in its statement there was a ​“need to support the economy” and reinterred its inflation target range was around 5%.
46​ UKRAINE Country Report​ April 2018 ​ ​www.intellinews.com