NBU will reduce the discount rate to 7%

The National Bank of Ukraine decided to reduce the discount rate from 7.5% to 7% as of June 10, 2013 – the decision has been laid down by the Resolution of the National Bank of Ukraine № 209 dd. June 6.

Note that the National Bank of Ukraine is concerned about the reduction in gross domestic product and is planning measures to enhance bank lending that could stimulate economic growth – representatives of the National Bank announced.

Recall that the last time the NBU reduced the discount rate to 7.5% per annum from 7.75% per annum was in March last year. Overnight refinancing rates also remain unchanged at 8.5% and 10.5%, despite the fact that since May 2012 in Ukraine there has been no inflation in annual terms.

It was reported that inflation in Ukraine in May 2013 was 0.1%, and in general since the beginning of the year – 0.2%, while the government allows for acceleration of growth in prices in 2013 at 4,8-6,1% after 0.2% deflation in 2012.

Source – Interfax-Ukraine