According to Concorde Capital, NBU to cut the discount rate by 2-3 points up to 20-19% on April 2118 April 2016
Concorde Capital Investment Company expects that the National Bank cuts the discount rate by 2-3 percentage points up to 20-19% on April 21.
This is stated in the economic review of Concorde Capital researches, inform the Ukrainian News.
"On April 21, the NBU Board will consider possible changing of the discount rate, which stuck at 22% in September 2015. We expect that this time NBU will dare to decrease the discount rate by 2-3 percentage points, as the majority of factors constraining liberalization of the monetary have lost their relevant, "- said experts.
During the last meeting on this issue (in early March) NBU noted the importance of the moderate monetary policy, designed to prevent a negative impact on the Ukrainian economy from the political instability and turbulence in the global economy.
It is noted that NBU outlined the following basic prerequisites for future easing of the monetary policy: restoration of political stability, better prospects for the Ukrainian exporters, and resumption of cooperation with the IMF.
"Two of the above prerequisites have already de facto occurred", - point out analysts of the Company.
Therefore, the Company expects a positive decision of the NBU to reduce not only the formal refinancing rate, but also to lower the NBU rates in the monetary market.
As Ukrainian News reported, experts expect the National Bank to cut the discount rate by the end of 2016 to 18% according to the consensus forecast organized by the Ministry of Economic Development and Trade.
On March 4, 2015, the National Bank raised the discount rate from 19.5% to 30%.
Later on, the NBU repeatedly maintained the discount rate at 30%.
On August 28, the National Bank reduced the discount rate to 27%, and on September 25, 2015 - to 22%.