Evaluation of the effectiveness of monetary policy in Ukraine
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Date
2023
Authors
Veremiienko, Vitalii
Primierova, Olena
Journal Title
Journal ISSN
Volume Title
Publisher
Kyiv-Mohyla Academy Publishing House
Abstract
Throughout the war period, the NBU's monetary policy was adaptive, focusing on crisis management and the stabilization of the financial system while laying the groundwork for post-conflict economic recovery. The unique challenges posed by the war necessitated a departure from conventional monetary policy practices, emphasizing the need for flexibility and responsiveness in central banking during times of crisis. Based on the information provided above, Ukraine followed a similar path to other countries when the NBU chose to peg the exchange rate of hryvnia to USD during the onset of the invasion. This move was made by the regulator to maintain stability in economic agents' expectations and thereby ensure
macro-financial stability during the war. In addition, the fixed exchange rate played a vital role in controlling inflation.
Description
Keywords
monetary policy, financial system, exchange rate, exchange rate stability, monograph section
Citation
Veremiienko V. Evaluation of the effectiveness of monetary policy in Ukraine / [Veremiienko Vitalii, Primierova Olena] // Financial Policy of Ukraine for the Maintenance of Macroeconomic Stability : the collective monograph / [Lukianenko I., Galytska E., Primierova O. et al. ; general editor Lukianenko I.] ; National University of Kyiv-Mohyla Academy. - Kyiv : Kyiv-Mohyla Academy Publishing House, 2023. - Chapter 2.3. - P. 60-82.