KIEV, Oct. 13 – Volodymyr Stelmakh, the governor of the National Bank of Ukraine, on Tuesday said the discount rate must be lowered soon to reflect lower pace of consumer inflation in the country.

The NBU, which has twice cut the rate since June, is facing political pressure, including from Prime Minister Yulia Tymoshenko, to further cut the rate to speed up economic recovery.

“We need to make the correction at the current stage towards lowering the rate to the level of current inflation this year,” Stelmakh told reporters.