12:32 06.12.2019

NBU council recommends board to weaken monetary policy, more actively build up forex reserves

1 min read
NBU council recommends board to weaken monetary policy, more actively build up forex reserves

The Council of the National Bank of Ukraine (NBU) has recognized the activities of the central bank board in terms of formation and implementation of the exchange rate policy in 2019 ineffective and being not in line with the challenges of the modern development of Ukraine.

"To use all the means and methods of monetary policy in order to smooth the NBU's monetary policy," according to the recommendations of the council, approved by its decision of December 5.

According to the document, it is also advisable for the National Bank to update the strategy for managing forex reserves and the schedule for replenishing forex reserves for the medium term.

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