The National Bank of Ukraine (NBU) has appointed Volodymyr Lepushynskyi as its new deputy governor, assigning him to lead the bank’s Monetary Stability division.
Lepushynskyi is set to assume the role on Dec. 8. As the deputy responsible for monetary policy, he will oversee the NBU’s tools to control the money supply, including adjusting interest rates, managing reserve requirements, and conducting open market operations.
“The foundation of effective monetary policy is a deep understanding of economic processes, the ability to anticipate risks, and the capacity to make decisions that maintain stability even in the most turbulent times,” NBU Governor Andriy Pyshnyi was quoted as saying in the press release.
The NBU Board comprises seven members: the governor, the first deputy, and five deputies.
Lepushynskyi joined the NBU in 2004 as an economist, focusing on money-market forecasts. Between 2008 and 2014, he held roles including department head and deputy head of the Monetary Policy Department.
From 2015 to 2019, he served as the deputy director of the Department of Monetary Policy and Economic Analysis, and led the department from 2019 until his new appointment.
Lepushynskyi holds a Master’s in Finance from Kyiv National Economic University and earned a Candidate of Sciences degree from the Ukrainian Academy of Banking at the NBU in 2010, with a dissertation on evaluating monetary policy effectiveness.
Pyshnyi said that Lepushynskyi helped introduce inflation targeting in Ukraine in 2015.
Before Lepushynskyi, the role was held by Sergiy Nikolaychuk, who has recently become the NBU’s first deputy governor, taking on responsibility for the financial stability of Ukraine’s banking system.