The National Bank of Ukraine (NBU) has decided to reduce the discount rate to 11%.
NBU Governor Yakiv Smolii said this at a press conference on Thursday, January 30, according to an Ukrinform correspondent.
“The board of the National Bank of Ukraine has decided to reduce the discount rate to 11% per annum from January 31, 2020,” Smolii said.
The NBU board decided to reduce the discount rate to 13.5% from December 13, 2019 and to 15.5% from October 25, 2019. On September 6, 2019, the discount rate was reduced to 16.5%, and in July, it was reduced to 17%. Earlier, on April 25, 2019, the NBU reduced its discount rate by 0.5% to 17.5% per annum for the first time in two years.