KIEV, April 26 – State-owned PrivatBank in May will cut basic rates for hryvnia and currency pegged deposits by 0.5-1% on average, the bank reported on its website.

"The reduction of the refinancing rate by the National Bank of Ukraine (NBU) and strengthening of downward market trends for the cost of loans allow PrivatBank to continue cutting deposits rates starting May both for hryvnias and foreign currency," head of Retail Business at PrivatBank Oleksiy Shaban said.