Ukraine's annual inflation slowed further in November, nearing the central ...
KIEV - Ukraine’s annual inflation slowed further in November, nearing the central bank’s target in a trend likely to prompt the central bank to cut its key interest rate next week, a Reuters monthly poll of analysts showed on Friday.
All 16 respondents in the poll expected the rate to be cut from its current level of 15.5%. Their median forecast for November inflation was 5.9%, down from 6.5% in October and 10.0% in November 2018. “A reduction of the rate by 100 basis points in December corresponds to the base scenario of the central bank,” said Olena Belan from Dragon Capital.
Analysts said they expect inflation to have slowed due to the central bank’s tough monetary policy and an inflow of foreign capital into local government bonds. This has buoyed the hryvnia and led to cheaper gas, oil and consumer goods imports.
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