The refinancing rate could be reduced to 8% per annum faster than the central bank previously forecasted if a favorable macroeconomic situation is retained, Governor of the National Bank of Ukraine (NBU) Yakiv Smolii has stated. “This year, if the macroeconomic situation does not change dramatically, the refinancing rate could be 8%. We previously planned to lower it to such a level in 2021. But now we see prerequisites for the more rapid easing of monetary policy,” Smolii said in an interview on YouTube channel KRYM.
According to him, this year businesses could expect loan rates at the level of 10-12% per annum in hryvnias.
As reported, from December 13, 2019 the NBU lowered the refinancing rate to 13.5% per annum from 15.5% per annum.