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NBU Council expects 9% inflation and 1% GDP growth in 2015

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NBU Council expects 9% inflation and 1% GDP growth in 2015
Photo: Reuters

The Council of the National Bank of Ukraine forecasts 9% inflation in 2015, reported the regulator.

In particular, the main direction of the monetary policy in 2015 will be the reduction of the consumer price index to 9% over the year, said the members of the NBU Council.

At that, the growth of the GDP the next year will be at 1% and the growth of the monetary base - at 20%, according to the council.

The Ukrainian authorities and International Monetary Fund have agreed these economic indicators within the frames of the Stand-By Arrangement.

In addition, the NBU Council expects that the strategy of the monetary policy in the mid-term will be based on the implementation of a regime of inflation targeting.

Moreover, the implementation of the regime of inflation targeting will be based on such basic principles as absolute priority of price stability and subjection of all purposes and goals of the monetary policy to it; the tactical flexibility and focusing on achieving mid-term objectives; the implementation of the regime of flexible foreign exchange rate which involves determination of hryvnia exchange rate against foreign currencies based on correlation between market supply and demand; the prospects of approving decisions; the NBU transparency.

As Capital reported, NBU forecasts 19% inflation in 2014.

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