KYIV, April 24 – Most members of the monetary policy committee of the National Bank of Ukraine (NBU) believe that it is unlikely that the refinancing rate of the central bank will be cut this year, according to the minutes of the April meeting of the committee posted on the NBU's website.

"As expected, the fiscal policy this year mainly focuses on current consumption and, accordingly, has a pro-inflationary character. As a result, devaluation and inflation expectations are still high," the committee members said.