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Ukraine central bank lowers key policy rate, hints at 'more active cuts'

The National Bank of Ukraine lowered its key policy rate to 13.5% from 15.5% and said "more active cuts" would not prevent it from keeping inflation close to its 5% target while driving economic growth.

The central bank, which projected in October that the policy rate would be reduced further to 8.0%, said it will release a revised forecast in January, taking into account future inflation and how it is being impacted by consumer demand and foreign-exchange market conditions.

Consumer inflation slowed to an annual rate of 5.1% in November — close to the target set by the central bank in 2015 — due to the easing of underlying inflationary pressures, a decline in energy prices and the strengthening of the hryvnia.