Weekly Insight -- NBU continues rate-cutting cycle
The central bank has implemented a 100bp reduction in the key interest rate, bringing it to 13.5%. This adjustment exceeded market expectations slightly, but was not entirely unpredictable.
Concurrently, interest rates on certificates of deposit (CDs) were also lowered by 100bp to 13.5% for overnight instruments and 16.5% for three-month instruments. Additionally, the cost of refinancing loans has been reduced by 200bp to 17.5%.
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