: RFE/RL: Ukraine cuts main interest rate amid disinflation

10:15 Apr. 22, 2016

RFE/RL: Ukraine cuts main interest rate amid disinflation

The head of Ukraine's National Bank Valeria Gontareva (UNIAN photo)

The discount rate was cut to 19 percent from 22 percent, the National Bank of Ukraine said Thursday

Ukraine's central bank has cut its main interest rate to 19 percent from 22 percent, citing a "significant easing in risks to price stability."

The National Bank of Ukraine said on April 21 it would make further cuts if disinflation continues and the country's USD 17.5 billion bailout is resumed.

"The key risk now is a delay in restarting cooperation with the International Monetary Fund (IMF)," the National Bank also said.

Read also Finance Minister assures Ukraine is ready for IMF visit

The bank kept its 2016 inflation goal of 12 percent, and said it should be able to ease capital controls once cooperation with the IMF resumes.

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