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Ukrainian central bank cuts rates to 17% as inflation decelerates
Journal Staff Report

KYIV, July 18 The National Bank of Ukraine has decided from July to lower the refinancing rate to 17% per annum from the level of 17.5% per annum, at which it had been holding it since the end of April.

"The NBU continues the cycle of monetary policy easing as inflation is declining towards the target of 5%," the central bank said in a statement.

The regulator said this decision also takes into account the updated macroeconomic forecast: the estimate of GDP growth was improved from 2.5% to 3% this year and from 2.9% to 3.2% next year, as well as the balance of risks.




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