NBU decisions on refinancing rate will depend on development of situation with coronavirus

The decisions of the National Bank of Ukraine (NBU) on the refinancing rate, which is currently at the level of 6% per annum, will depend on the development of the situation with coronavirus, the board of the central bank said during a meeting with the heads of the member institutions of the Forum for Leading International Financial Institutions (FLIFI).

"During the last monetary meetings, the NBU kept the rate at the level of 6%. In those conditions that was the best solution … Further decisions depend on the development of the situation with coronavirus," the NBU press service said on Facebook.

During the meeting, the NBU board also noted that Ukraine's dialogue with the International Monetary Fund (IMF) continues, specifying that the next tranche from the fund is expected this year.

Another topic of the meeting was the revival of mortgage lending, in particular, the board of the National Bank indicated that the reduction of interest rates on mortgages to a single-digit level is a matter of the current and next years, the press service reported.

The board also added that the central bank has joined the development of new legislation on financial and credit mechanisms for housing construction, which aims to increase the responsibility of developers and transparency in financing the real estate market.

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Source: www.en.interfax.com.ua