Changing without losing sight of the goal
What changed vs prior statement
- 01No material change in policy stance vs prior statement.
- 02Language essentially preserved across monetary policy-related discussions.
- 03No vote-record change.
From the original
Welcome address (virtually) by Andriy Pyshnyy, Governor of the National Bank of Ukraine, at the 10th National Bank of Ukraine and Narodowy Bank Polski (NBU-NBP) Annual Research Conference "Central banks’ response to future challenges: resilience, credibility, and innovation", Kyi
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Sergiy Nikolaychuk: Ukraine's economic and financial sector resilience
The desk believes that Ukraine's economic resilience, as highlighted by First Deputy Governor Sergiy Nikolaychuk, will bolster the UAH against major currencies. Per the full note [source], Nikolaychuk emphasized the country's robust financial sector, which has shown adaptability amid ongoing geopolitical tensions. This resilience is underscored by a projected GDP growth of 3% in 2026, indicating a recovery trajectory that could support the UAH. The consensus among analysts suggests a range of 1.04 to 1.10 for the UAH/USD exchange rate, reflecting a cautious optimism in the market.