Policy Progress: The National Bank of Ukraine Cut the Key Policy Rate to 17%

The American Chamber of Commerce in Ukraine welcomes the adoption of National Bank of Ukraine (NBU) Board Decision #493-рш dated July 18, 2019 aimed at declining the key policy rate to 17% per annum.

The NBU baseline scenario anticipates the key policy rate to decrease further, to 8% over the coming years, provided that inflation steadily declines to the 5% target. The Regulator indicates that further cooperation with the International Monetary Fund remains the basic background for the macroeconomic forecast.

The Chamber has been actively and consistently advocating for the cycle of monetary policy easing and continuing the cooperation with the IMF through constant dialogue with the leadership of responsible state authorities and by expressing the business community's position.