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Approved monetary policy principles for 2022 fix inflation targeting, floating exchange rate – NBU

KYIV. Sept 13 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) has approved the main principles of monetary policy for 2022, in particular, it has fixed inflation targeting at the level of 5% ± 1 percentage point and the floating exchange rate, Governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko has said.

"The continuation of use of the inflation targeting monetary regime in 2022 and in subsequent years has been fixed to achieve and ensure price stability. […] In addition, use of the floating exchange rate regime, which does not exclude the possibility of the National Bank’s foreign exchange interventions," he said during a press briefing on Monday.

Shevchenko stressed: the National Bank will not oppose the fundamental tendencies of the exchange rate, will not strengthen them, but will smooth out the effects of their implementation.

The NBU governor said that the main principles of monetary policy for 2022 also approve use of the rate as the main monetary policy tool.