The National Bank has decided to lower the refinancing rate by half a percentage point. From June 1, it will be 9.25% per annum.
Chairman of the Board of the National Bank, Roman Golovchenko, justified the need to revise the rate by slowing inflation, the return of GDP to growth, and improved foreign trade dynamics.
The overnight loan rate is also reduced by the same amount. It will be 10.75% per annum.
A year ago, the refinancing rate was raised by the National Bank by 0.25 percentage points to 9.75% per annum.
The refinancing rate affects the cost of loans in the economy, as well as deposit rates.
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