NBU Council recommends board to refrain from buying state equities, supporting budgetary expenses
The Council of the National Bank of Ukraine (NBU) has recommended that the board refrain from buying government securities and supporting budget expenditures, Head of the NBU Council Bohdan Danylyshyn has said.
"The Council recommended that the board, when carrying out operations provided for by the law on the National Bank of Ukraine, continue to refrain from performing operations that may have signs of direct or indirect support for budget expenditures. And it is recommended that the National Bank refrain from carrying out transactions for the purchase of government securities and set parameters on the upper limit of the volume of government securities in the portfolio of the National Bank of Ukraine," Danylyshyn said on Facebook.
According to him, the NBU Council also instructed the board by October 1, 2018 to develop a methodology for calculating and setting the parameters of the upper limit of the volume of government securities in the NBU portfolio.
The NBU Council also approved the NBU's monetary policy strategy and took note of the board's proposals as for basic principles of monetary policy for 2019 and medium-term perspective.