Prospects for the introduction of inflation targeting in Ukraine

  • Оlena Prymostka
Keywords: Inflation targeting policy, inflation, stages and mechanisms of inflation targeting policy introduction in Ukraine, National Bank of Ukraine roadmap on transition to inflation targeting

Abstract

 Investigated world experience implementing the policy of inflation targeting in the world. Analyzed the regulations of the National Bank of Ukraine on policy implementation trahetuvannya inflation, the stages and mechanism of implementation of inflation targeting in Ukraine. Researched and argued reasons that complicate policy implementation trahetuvannya inflation in Ukraine suasnomu stage of development.

Over the past decades, the transformation of the methodical apparatus used by monetary authorities in the monetary sphere has taken place in the world. There is a change in the main objectives of the central banks in the direction of developing a monetary regime that can ensure the achievement of the primary objectives of monetary policy, provided that there is a transparent and clear definition of the goal. The evolution of the goals of the central banks is due to the intensification of globalization processes, increased mobility of capital and the integration of the national financial market into a single global financial space.

At the moment, the National Bank of Ukraine developed the "Fundamentals of monetary policy for 2015" and the National Bank of Ukraine Road Map for the transition to inflation targeting (Table 3), which states that the NBU's strategic goal is to achieve and maintain in the medium-term the prospect of low stable inflation rates (5% per annum with a tolerance of ± 1%) and a gradual transition to inflation targeting.

Published
2018-02-13