13:59 16.01.2020

NBU with great probability to cut forecast range for refinancing rate late Jan

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NBU with great probability to cut forecast range for refinancing rate late Jan

The National Bank of Ukraine (NBU) with a great probability to cut the forecast range for refinancing rate at the end of January 2020, Deputy NBU Governor Dmytro Sologub has said.

"On January 30, we will get not only the decision of the central bank regarding the refinancing rate, but also the forecast range. I can say that there really is a big chance that this range will be more ambitious than it was," he said at a press briefing after the presentation of the Strategy of Ukrainian Financial Sector Development until 2025 held in Kyiv on Thursday.

Together with the decision on the refinancing rate, the NBU will publish a macroeconomic forecast and a forecast on the yield range in line with the schedule for the publication of such data once a quarter.

As reported, NBU Governor Yakiv Smolii in the first decade of January said that while maintaining a favorable macroeconomic situation, the refinancing rate could be reduced to 8% per annum faster than the central bank had previously predicted.

Since December 13, 2019, the NBU has lowered the refinancing rate to 13.5% from 15.5% per annum.

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