Central bank cuts policy rate by 5ppt down 22%

UKRAINE - In Brief 24 Sep 2015 by Dmytro Boyarchuk
On September 24th Management Board of the National bank of Ukraine approved policy rate cut by 5ppt down to 22% since September 25th. This was already second policy rate cut over the last two months. On August 28 the Central bunk reduced policy rate by 3 ppt down to 27%. The tendency is quite positive since it signals that the Central bank is very optimistic about economic prospects. Still such policy rate cut does not have any practical implication for activities. Economy is still depressed and two-digit interest rate could be afforded only for some short-term needs. All in all this policy rate cut only means that Central bank is not afraid of speculative attacks on hryvnia anymore.

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