KYIV, May 8 - Most of the members of the monetary policy committee of the National Bank of Ukraine in a discussion on April 26 expressed the opinion that by the end of 2023 the NBU may reduce the refinancing rate to 21%.

"They mostly agreed that the best time to start a cycle of rate cuts is the fourth quarter," the National Bank's website said on Monday.

The regulator indicated that such timing is determined by the priority of the task of easing part of the currency restrictions.