NBU First Deputy Governor Sergiy Nikolaychuk’s analytical article for Vox Ukraine features a detailed account of:
- conditions the NBU faced as it implemented inflation targeting in Ukraine
- innovations in the central bank’s work due to the change of monetary regime
- inflation-targeting framework, including the rationale behind setting the medium-term target for inflation at 5%
- effectiveness of this monetary regime prior to the full-scale invasion
- major shifts in monetary policy since 24 February 2022
- strategic priorities.
The material is available here.