NBU Continues Cutting Rates.
6 July 2008
The National Bank reduced its overnight rate by 0.5% for both secured and unsecured loans, to 9.5% and 10.5%, respectively. Alexander Viktorov: This is the second overnight rate cut in the last month and comes in line with the NBU’s loosening monetary policy. Since interbank overnight rates are in the range of 2%-3%, the NBU is an overnight lender of last resort.
