The National Bank of Ukraine (NBU) intends to continue the reduction of refinancing rate if a favorable situation is seen on the market, Director of the financial stability department of the NBU Vitaliy Vavryschuk said at a briefing on Thursday.

"The NBU changed refinancing rate from 22% as of early 2016 to 15%, and if there were no negative shocks… we are tuned to continue cutting the key NBU rate," he said.

As reported, the NBU from September 16 cut refinancing rate from 15.5% to 15%. On July 29 the NBU reduced the rate from 16.5% to 15.5%, from June 24 – from 18% to 16.5%, from May 27 – from 19% to 18%, from April 22 – from 22% to 19% per annum.