KYIV, Oct 26 – The National Bank of Ukraine (NBU) decided to lower the key policy rate by 4 percentage points from October 27, to 16% per annum, while the majority of market players expected a decrease of 2 percentage points, to 18%, while rates on overnight and three-month certificates of deposit and refinancing loans will remain at the same level.

"The Board of the National Bank of Ukraine decided to set the key policy rate at 16% from October 27, 2023, equalizing it with the rate on overnight certificates of deposit. Thus, the National Bank is modernizing its operational design of monetary policy according to the 'lower bound' system," NBU governor Andriy Pyshnyy said at a press conference on Thursday.