NBU lowers key policy rate to 13%

The National Bank of Ukraine (NBU) has decided to reduce the key policy rate to 13%.

NBU Governor Andriy Pyshnyy said this at a briefing on Thursday, according to an Ukrinform correspondent.

"The board of the National Bank decided to reduce the key policy rate from 13.5% to 13% from June 14, 2024," Pyshnyy said.

Ukraine's central bank raised the key policy rate to 10% in January 2022, keeping its unchanged since the war began. However, on June 3, 2022, the key policy rate was increased from 10 to 25%. It remained at this level for more than a year. On July 27, 2023, the rate was reduced to 22% and then to 20% from September 15 and to 15% from December 15. In March 2024, the central bank lowered the key policy rate to 14.5%. In May 2024, the rate was reduced to 13.5%.