"The Board of the National Bank of Ukraine has decided to reduce the discount rate to 16.5% per annum from September 6, 2019," Smolii said at a press conference on Thursday.
According to him, the NBU continues the cycle of easing monetary policy as it expects inflation to slow to the target of 5%.
Earlier, the NBU Board decided to reduce the discount rate to 17% per annum from July 19, 2019. On April 25, 2019, the NBU reduced the discount rate by 0.5% to 17.5% per annum for the first time in two years.
The NBU promised to lower the discount rate to 9% in 2020 and to 8% in 2021 if appropriate economic conditions are created in Ukraine.
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