March 12, 2020 / 12:07 PM / a month ago

Ukraine central bank cuts main interest rate to 10% from 11%

KIEV, March 12 (Reuters) - Ukraine’s central bank cut its main interest rate to 10% from 11% on Thursday, citing the need to support the economy and bring inflation back to the bank’s target range of around 5%.

The cut was less steep than January’s 2.5 percentage point reduction and in line with the expectations of analysts in a Reuters poll.

They had predicted the central bank would make a more moderate cut due to a delay in the approval of a new loan programme from the International Monetary Fund.

Reporting by Natalia Zinets; writing by Matthias Williams

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