The Council of the National Bank of Ukraine (NBU) has approved the Monetary Policy Guidelines for 2022 and the medium term.
Ukrinform reports this with a reference to the central bank’s press service.
According to the NBU, this document is based on the proposals of the NBU Board and reiterates the goals, principles, and monetary policy instruments laid out in the previous versions of the Monetary Policy Guidelines. It is fully in line with the regulator’s Monetary Policy Strategy and Ukraine’s international commitments, in particular the provisions of the Memorandum with the IMF on Economic and Financial Policies. This will increase the consistency and predictability of the NBU’s monetary policy.
“Under the Monetary Policy Guidelines for next year, the NBU will thus continue to: pursue its inflation targeting policy to achieve and ensure price stability; maintain price growth at the level of 5% ± 1 pp in the medium term; use the key policy rate as the main monetary policy instrument, if necessary, the central bank may use other monetary policy instruments provided by the Law of Ukraine On the National Bank of Ukraine; pursue the floating exchange rate regime without targeting a specific exchange rate level or range,” reads the report.
Within the period specified by law, the NBU Council will submit the Monetary Policy Guidelines to the Verkhovna Rada of Ukraine for information purposes.