Ukraine’s prime rate is cut to 10%

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Effective today, Ukraine’s prime rate is 10%, the lowest since the war with Russia started six years ago, reports.

In the latest of an 8-month series of six cuts, the National Bank of Ukraine Board lowered the key rate by one percentage point, from 11%. With annual inflation at 2.4% in February, the bank is sticking with its goal of cutting the prime rate to 7% by the end of this year.

The Bank said: “The Board of the National Bank made a decision on the discount rate in conditions when inflationary pressure is weakening faster than expected, and the economy requires further support.”

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