MONETARY MEASURES OF THE NBU IN THE STATE FINANCE MANAGEMENT SYSTEM
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.2, No. 73)Publication Date: 2023-05-31
Authors : Vdovenko Lаrysa; Ktitor Kateryna; Dronchak Vitaly;
Page : 112-116
Keywords : monetary policy; NBU; official exchange rate; discount rate; banking system; inflation targeting;
Abstract
The article is devoted to the study of the role of the National Bank of Ukraine (NBU) in the system of public finance management and the peculiarities of the use of regulatory influence of monetary instruments to ensure macroeconomic stability in the conditions of existing problems and challenges of today. The factors of the crisis in the national economy and the banking system of Ukraine are outlined, and it is determined that the strategic orientation in the medium-term period is to maintain the course of implementation of the inflation targeting policy, the essence of which will lead to the public announcement of several goals against inflation and the obligation of the central bank to achieve these goals. The main indicators of monetary policy are analyzed and the influence of external and internal factors on them is characterized. It was concluded that in order to achieve inflation goals in the medium and long term, it is necessary to promote effective financial intermediation, to pay attention to the development of targeted lending to support those areas of the economy for which the availability of bank credit resources is limited, to use positive world experience, the basis of which is strengthening. protection of the rights of investors, creditors and consumers of financial services, development of non-bank lending, expansion of the latest financial and banking technologies. It was established that solving the problem of balanced financing of the needs of the fiscal sector of Ukraine in wartime conditions requires the harmonization of monetary and fiscal policy. Conclusions were made that the implemented monetary measures of the NBU to strengthen the competition of banks for time deposits of the population contribute to reducing inflation, protecting hryvnia savings from inflationary depreciation and increasing exchange rate stability.
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