The Board of the National Bank of Ukraine (NBU) has decided from January 31, 2020 to decrease the refinancing rate from 13.5% to 11% per annum.

"The National Bank continues mitigating its monetary policy in order to ensure inflation at 5% and maintain strong economic growth," the NBU said on Thursday.

According to the central bank, at the end of 2020, the forecast for the refinancing rate was reduced to 7%.