KYIV, Jan 10 – Goldman Sachs predicts the increase in inflation in Ukraine by 4.1% in 2019 and to 5% in 2020, according to the materials of the bank.

The bank said that the basic pace of inflation will remain moderate.

The forecast is based on a projection of the stable hryvnia exchange rate movement.

At the same time, Goldman Sachs analysts forecast a further reduction in the refinancing rate of the National Bank of Ukraine at a meeting of the monetary policy committee scheduled for January 30 from the current 13.5% per annum to 12.5% or lower. The baseline scenario provides for a reduction in the refinancing rate by 4 parentage points, to 9.5% per annum at the end of 2020.