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Schedule of Meetings and Key Publications on Monetary Policy

2024

Meeting of the Monetary Policy Committee Meeting of the NBU Board on Monetary Policy Decision of the NBU Board on the Key Policy Rate Speech at a press briefing Video of press briefing (UKR) Inflation Report Summaries of the Discussion on the Key Policy Rate at the Monetary Policy Committee
23-24 January 25 January To Keep the Key Policy Rate at 15% Speech by NBU Governor Andriy Pyshnyy 25 January 01 February 05 February
12-13 March 14 March To Cut the Key Policy Rate to 14,5% Speech by NBU Governor Andriy Pyshnyy 14 March   25 March
23-24 April 25 April To Cut the Key Policy Rate to 13,5% Speech by NBU Governor Andriy Pyshnyy 25 April 02 May 06 May
11-12 June 13 June To Cut the Key Policy Rate to 13% Speech by NBU Governor Andriy Pyshnyy 13 June   24 June
23-24 July 25 July To Keep the Key Policy Rate at 13% Speech by NBU Governor Andriy Pyshnyy 25 July 01 August 05 August
17-18 September 19 September To Keep the Key Policy Rate at 13% Speech by NBU Governor Andriy Pyshnyy 19 September   30 September
29-30 October 31 October To Keep the Key Policy Rate at 13% Speech by NBU Governor Andriy Pyshnyy 31 October 07 November 11 November
10-11 December 12 December To Raise the Key Policy Rate to 13,5% Speech by NBU Governor Andriy Pyshnyy 12 December   23 December

 

The NBU maintains a so-called 7-day silence period on monetary policy (also called a quiet period) before making and unveiling a monetary policy decision. This period begins on the last Thursday that precedes the Board’s monetary policy meeting, and ends at 2 p.m. on the day of the meeting, at the same time that the Board makes public its monetary policy move on the NBU’s official website.The Governor of the National Bank of Ukraine announces a monetary policy decision made by the Board at a press briefing at 2 p.m., two hours after the Board meeting on monetary policy ends.

During this period, the NBU Board members and other members of the Monetary Policy Committee, along with the rest of NBU employees, must not discuss monetary policy issues with mass media, banks, experts, investors, and other stakeholders – whether on or off record. The silence period also implies that mass media may not publish NBU representatives’ interviews, comments, or other public materials that were prepared before the silence period went into effect but that contain statements pertaining to monetary policy.

The silence period, which is common practice among inflation-targeting central banks, is intended to prevent public speculations around an upcoming monetary policy decision of the NBU, as they may have an ambiguous effect on the expectations of financial market participants, increase uncertainty, and trigger excessive market volatility.

 

 

2025

 

Meeting of the Monetary Policy Committee Meeting of the NBU Board on Monetary Policy Decision of the NBU Board on the Key Policy Rate Speech at a press briefing Video of press briefing (UKR) Inflation Report Summaries of the Discussion on the Key Policy Rate at the Monetary Policy Committee
21-22 January 23 January   Speech by NBU Governor Andriy Pyshnyy   30 January 03 February
05-06 March 06 March   Speech by NBU Governor Andriy Pyshnyy     17 March
15-16 April 17 April   Speech by NBU Governor Andriy Pyshnyy   24 April 28 April
03-04 June 05 June   Speech by NBU Governor Andriy Pyshnyy     16 June
22-23 July 24 July   Speech by NBU Governor Andriy Pyshnyy   31 July 04 August
09-10 September 11 September   Speech by NBU Governor Andriy Pyshnyy     22 September
21-22 October 23 October   Speech by NBU Governor Andriy Pyshnyy   30 October 03 November
09-10 December 11 December         22 December

 

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