In deciding how quickly the key policy rate can be decreased to that level, the NBU will take into account: how talks with the IMF progress how the coronavirus pandemic develops and how quickly quarantine measures are lifted what anti-crisis measures other governments and central banks adopt.
Instead, what matters for the single monetary policy is the aggregate situation of our monetary union. In this context, a well-known mechanism applies: The more similar economic conditions and economic policies of member states are, the more suitable the single monetary policy becomes for each member country.