12:07 03.07.2020

NBU assures business of unchanged policy with maintaining independence

2 min read
NBU assures business of unchanged policy with maintaining independence

The Board of the National Bank of Ukraine (NBU) will remain a team and is ready to work further, adhering to the current policy to maintain the stability of the economy in Ukraine, but subject to maintaining their right to make decisions independently, First Deputy Governor of the NBU Kateryna Rozhkova said on Thursday.

"The NBU Board made a rather difficult decision to stay working now... We see our task not only in maintaining macrofinancial stability, but also independence and the institutional capacity of the NBU – and this is, in fact, key conditions – hoping that they will be supported, we remain working," she said during an online meeting of the NBU Board with business, a meeting's participant from the business told Interfax-Ukraine.

Rozhkova added that the NBU Board seeks an open and effective dialogue with the government, since only in cooperation it sees an opportunity to ensure the further development of the country.

"The board remains in office for the term of its tenure, and I don't think that one-man show is here, decisions are made collectively. Therefore... changing the policy or changing the course with this team will be impossible," NBU Governor Yakiv Smolii said at the meeting.

He also said that he sees no reason to change developments and the course that the central bank has chosen. "Therefore, we will hope that everything will be fine and will move in the direction in which we are working now," Smolii said.

The governor of the NBU said that the IMF and stakeholders who worked on the placement of eurobonds should not "focus on personalities."

"First of all, we are working and worked with institutions. If we say that we continue to preserve the principles that were laid down, such as institutional independence, then I see no reason for there to be any radical changes both in our policy and [relations] with investors," he added.

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