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Kyiv Delivers Surprise Cut as Inflation Ebbs, Funds Arrive.
In: Bloomberg.com, 2024-03-14, S. N.PAG
Online
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Zugriff:
Ukraine's central bank has unexpectedly lowered borrowing costs by reducing the key rate from 15% to 14.5%. This decision was made due to slowing inflation and improved expectations of foreign financial assistance as Ukraine continues to resist Russia's invasion. The central bank believes that a further decline in inflation, stable foreign exchange market conditions, and positive developments in receiving external assistance will pave the way for future easing measures. The central bank expects Ukraine to receive around $10 billion in foreign assistance by May, with the European Union already approving a €50 billion package for Kyiv. President Joe Biden is also working to resolve a dispute in Congress that is holding up over $60 billion in assistance to Ukraine. Despite the decrease in inflation, policymakers had been hesitant to resume the easing cycle due to uncertainty surrounding international financial aid. The central bank also reduced rates for three-month deposit certificates by 1.5 percentage points to 17.5%. [Extracted from the article]
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Kyiv Delivers Surprise Cut as Inflation Ebbs, Funds Arrive.
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Autor/in / Beteiligte Person: | Verbianyi, Volodymyr ; Krasnolutska, Daryna |
Zeitschrift: | Bloomberg.com, 2024-03-14, S. N.PAG |
Veröffentlichung: | 2024 |
Medientyp: | serialPeriodical |
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