The national Bank in 2017, will adhere to a floating exchange rate regime

Нацбанк в 2017 г. будет придерживаться плавающего режима обменного курса

The building of the National Bank of Ukraine, archival photo

The national Bank of Ukraine in 2017 plans to adhere to the floating exchange rate regime. This is stated in the “principles of monetary policy for 2017 and medium term,” published on the website of the NBU.

“One of the objectives of foreign exchange intervention is to smooth excessive exchange rate volatility. Restore stable functioning of the foreign exchange market the national Bank will gradually reduce its presence in it and will loosen administrative regulation; prospective nature of the decisions that should be based on a macroeconomic basis and to contribute to economic growth. The decision regarding parameters of monetary policy will be based on a comprehensive macroeconomic analysis and forecast and transparency of the National Bank”, – the document says.

Related news: NBU predicts inflation to 5% by the end of 2019

The NBU stressed that a detailed explanation of their actions and the reasons that led to them, will be provided to market participants on a regular basis during training and immediately after the adoption of the relevant decision.

Related news: NBU predicts an increase in the current account deficit of the balance of payments of Ukraine up to UAH 2.9 billion in 2017

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