NBU cuts key policy rate to 16%

The National Bank of Ukraine (NBU) has decided to cut its key policy rate to 16%.

NBU's Governor Andriy Pyshnyy announced this at a briefing, an Ukrinform correspondent reports.

"The Board of the NBU has decided to set the discount rate at 16% starting October 27, 2023," he said.

As Ukrinform reported, the NBU raised its key policy rate to 10% in January 2022. Since the beginning of Russia's war of aggression, the key policy rate remained unchanged. However, on June 3, 2022, the key policy rate was raised from 10% to 25%. It remained at this level for more than a year. On July 27, 2023, the rate was cut to 22%, and on September 15, it was reduced to 20%.