The Board of the National Bank of Ukraine has recognized the monetary and exchange rate policy of the NBU in 2019 ineffective and noted that it does not meet the challenges of modern development of Ukraine.
“To use all means and methods of monetary policy to mitigate the monetary policy of the National Bank of Ukraine”, – said the head of the NBU Council Bohdan Danylyshyn.
The Council recommended the national Bank to update the management strategy of foreign exchange reserves and a schedule of replenishment of gold reserves in the medium term.
We will remind, in October the NBU Council continued the work of Bohdan Danylyshyn in the position of Chairman of the Board and initiated the expansion of its powers to oversee the activities of the national Bank.
Then he spoke of the need to consider expanding the Council’s powers, giving it the status of the governing body of the NBU, giving more efficient tools in terms of decision-making in the event of failure to achieve the goals of the NBU.