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Sunday, April 5, 2020

NBU's inflation-targeting policy elicits discussion

The National Bank of Ukraine (NBU) on Monday introduced an inflation-targeting policy to help the financial situation in the country and improve transparency.

A roundtable discussion soon afterward by economics and finance experts was held at the Kyiv School of Economics to discuss the policy.

Deputy Director of the General Economic Department Serhii Nikolaichuk said the plan will allow certain goals and transparency mechanisms to be put in place in an effort to foster the implementation of monetary-policy decisions.

Triggering inflation also will set in motion reform plans within the central bank and the financial sector. NBU officials said the targeting of inflation will balance fiscal policy and provide clear benchmarks for strengthening analytical systems and overall money value.

Nikolaichuk also said a plan similar to this has been successful in 27 other countries, many of them considered "developing nations."

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National Bank of Ukraine

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