KYIV, Oct 27 - J.P. Morgan analysts forecast the National Bank of Ukraine (NBU) will cut the refinancing rate by 50 basis points (b.p.) in December, to 5.5% due to low risks of inflation growth associated with a decrease in activity in the fourth quarter of 2020 because of an increase in the number of COVID-19 cases.

According to the bank's assessments on the prospects for border markets, while the central bank maintains its rate, but the expansion of the coronavirus epidemic in Ukraine may lead to more easing of monetary policy and a depreciation of the currency.