The Public Board of the NBU Council (hereinafter -the Public Council) held a meeting at which the Public Board members presented a report providing an analysis of the NBU’s monetary policy and the banking system's performance in 2016. Also, the Public Board approved its annual plan.
In opening the meeting, Chairman of the NBU Council Mr Bohdan Danylyshyn said: “A meeting of the NBU Council will be held next week to hear a progress report by the NBU Board on the implementation of the the Monetary Policy Guidelines in 2016. Last year headline inflation was brought down to 12.4% y-o-y, which was in line with the target range of 12±3% set out by NBU Board Resolution approved in August 2015. Therefore, the monetary policy target for 2016 was achieved. This is also an indication of the NBU’s ability to gradually restore price stability and fulfil its main statutory function.”
During the meeting, the Public Board members put forward their proposals on ways to enhance the monetary policy's ability to influence the country’s social and economic development. The NBU Council will take on board these proposals in their decision-making process.