KYIV, Sept 4 – The National Bank of Ukraine (NBU) has set a target inflation rate at 5% from December 2019, according to the NBU's monetary policy strategy approved by the NBU council in July and posted on the regulator's website on Tuesday.
"The best benchmark for inflation (the Consumer Price Index year-over-year) ... is determined by the NBU at 5% ± 1 pp. The phase of reducing the inflation target from the current level to 5% will take place until December 2019. And since December 2019, this goal set at % will be constant and can only be revised downwards if the volatility of the hryvnia forex rate reduces, reference prices change and the effects of the convergence of the Ukrainian economy are lowered to the level of the countries that are major trading partners," the document says.
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