KYIV, Sept 14 – The National Bank of Ukraine (NBU) has decided to cut the key policy rate from 22% to 20% effective 15 September 2023, in accordance with market expectations.

" Taking into account the balance of risks, a sharp fall in inflation, and the NBU's ability to safeguard exchange rate stability, the NBU Board decided to cut the key policy rate, to 20%... The further pullback in inflation and the NBU's ability to ensure FX market sustainability are making it possible to continue the cycle of key policy rate cuts while maintaining the sufficient attractiveness of hryvnia savings. Such a step will support the economic recovery without posing threats to macrofinancial stability," the central bank said on its website on Thursday.