KIEV: Ukraine trimmed borrowing costs for a fourth month after inflation slowed more than predicted and the hryvnia remained stable. The central bank lowered its key policy rate to 15.5 percent from 16.5 percent, according to a statement Thursday. Six of nine economists in a Bloomberg survey predicted a reduction to 16 percent, two saw a cut to 15.5 percent and one forecast an increase to 17 percent. Governor Valeriya Gontareva will speak at 2 p.m. in Kiev, the capital.
“June inflation slowed more than forecast,” the central bank said in its statement. “Should risks to price stability further abate, the national bank will continue to ease monetary policy. This will gradually help to cut credit costs and speed up economic growth.”