of April 14, 2014 No. 212
On regulation of the monetary market
Having analyzed dynamics of macroeconomic and monetary indicators in January - April, 2014, the Board of the National Bank of Ukraine states intense situation in the monetary market of Ukraine which is consequence of deterioration in market expectations of economic agents against the background of social and political events.
In the conditions of difficult macroeconomic situation it creates risks for price stability that is the main legislative priority of activities of the National Bank of Ukraine. So, within the last months certain acceleration of inflation rates is fixed. In particular the surplus of consumer price index in annual measurement in March increased to % 3,4 in comparison with % 1,2 in February, 2014. At the same time there are risks of further growth of inflation as a result of drop in the exchange rate of hryvnia and realization of economic reforms which intentions concerning implementation were announced by the Government of Ukraine.
For the purpose of control of inflationary tendencies and balancing of situation in the monetary market the Board of the National Bank of Ukraine considers necessary to take measures in the direction of increase in internal cost of national monetary unit due to use of levers of percentage policy. Together with other stabilization measures of the National Bank of Ukraine it will allow to increase attractiveness of bank deposits, and also to affect positively environment of the foreign exchange market of Ukraine.
At the same time the Board of the National Bank of Ukraine considers it expedient to smooth influence from changes in percentage policy on the cost of the mechanism of operational maintenance of liquidity of banks entered recently taking into account that its today's nominal level is in limits of market value of resources.
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The document ceased to be valid since July 17, 2014 according to Item 3 of the Resolution of Board of the National Bank of Ukraine of July 15, 2014 No. 417