Inflation targeting, which the National Bank (NBU) has been actively using in recent years, could be described with a famous joke: “Can you see the gopher? No? Neither can I. But he’s here!” Despite the norms of the Constitution and the special laws, the NBU, like a petulant child, chose the “favorite” toy in the form of inflation from the huge heap of our problems. In fact, we have faced another absolutization of an abstract notion; previously, we have absolutized the course, now we absolutize the inflation index.
OP-ED
Oleksiy Kushch: What better says about Ukraine’s economy, dollar rate or inflation?
The National Bank of Ukraine (NBU) in Kyiv on Nov. 30, 2016.
