* * *  Dear colleagues, Please be informed that the Board of the National Bank of Ukraine has decided to cut the  key policy rate to 15.5% per annum effective 25 October 2019. The NBU continues the cycle of monetary policy easing as inflation is steadily declining towards the target of 5%. What price developments followed the last monetary policy meeting?
In September, consumer inflation declined to 7.5% yoy, below the NBU’s July forecast. Inflation continued to slow in October according to the NBU’s preliminary estimates based on online analysis of prices. The steady disinflation has been driven by a gradual easing of underlying pressures on prices. That was reflected in a rapid slowdown of core inflation.