NBU taking measures to increase efficiency of refinancing rate

14:12, 12.07.2017 1 min read

The National Bank of Ukraine (NBU) has set the concrete periods for publishing the size of the refinancing rate using regular sources of information open to the public. This would allow banks to use the refinancing rate as an indicator in the formula for setting the floating interest rate for issued credits.

The NBU said on its website that this is outlined in NBU board resolution No. 63 dated July 11, 2017 amending the rules on the principles of the interest policy of the National Bank of Ukraine that will take effect on July 12.

"The National Bank daily publishes the size of the refinancing rate in mass media and/or publishes it using other regular sources of information open to the public, including on the NBU official website," the NBU said.

As reported, the central bank cut the refinancing rate to 12.5% from 13% on May 26, 2017.