KYIV, July 20 – The National Bank of Ukraine (NBU) may cut the refinancing rate on July 23 by one percentage point, to 5% per annum, given the slight acceleration of inflation in June to 2.4% from 1.7% in May, according to poll of bankers released by Interfax-Ukraine.

"Despite a slight acceleration of inflation to 2.4% in June, it still remains below the target range of the NBU (4-6%). This leaves room for further easing monetary policy, albeit at a much more cautious pace than in the first half of 2020," the executive director of the Independent Association of Banks of Ukraine, Olena Korobkova, said.