Ukraine to Cut Rates First Time Since Invasion
- Central bank expected to cut benchmark interest rate to 23%
- Reduction would be big step in easing wartime emergency regime
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Ukraine will probably cut official borrowing costs for the first time since Russia sent tanks and troops across the border in early 2022, in a step toward easing an emergency monetary regime erected to shield the economy from the war.
The central bank will cut the benchmark interest rate by two percentage points to 23% on Thursday, according to the median forecast of analysts in a Bloomberg survey. It would be the first reduction since rate setters froze monetary policy in February of last year, imposing capital controls to prevent a currency selloff and executing an emergency hike.