KYIV, Jan 30 - The National Bank of Ukraine (NBU) has improved its inflation forecast for 2020 from 5% to 4.8% and announces plans to lower the refinancing rate at the end of this year to 7% per annum instead of the previously announced estimate of 9% per annum.

"The National Bank predicts a reduction in the refinancing rate to 7% at the end of 2020 thanks to the rapid improvement of the macroeconomic situation in the country," the NBU said on Thursday.