SCIENTIFIC DISCUSSIONS УДК 336.339 JEL: E42, E52, E58 1West Ukrainian National University, Research ID : http://www.researcherid.com/rid/H-47-2017 POST-WAR INFLATION TARGETING: KEY CHALLENGES The National Bank of Ukraine (NBU) suspended inflation targeting for the period of martial law, but announced a return to it as soon as the situation allows. The post-war normalization of monetary policy in Ukraine is historically unprecedented, since most of the known cases involve the relaunch of money circulation and the adjustment of banking activities, the establishment of the central bank as an institution designed to eliminate the macroeconomic preconditions of internal conflicts. At the same time, military conflicts are characterized by monetary financing of the budget, a spike in inflation and increased dollarization, and seigniorage may be the optimal form of compensation for a sudden loss of tax revenues only to a limited extent. Keywords:inflation targeting; monetary policy; National Bank of Ukraine; interest rates; monetary transmission; foreign exchange reserves.
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