Andriy Pyshnyy: Inflation targeting in a world of large and persistent shocks Speech by Mr Andriy Pyshnyy, Governor of the National Bank of Ukraine, at the workshop "Inflation targeting in a world of large and persistent shocks", organised in cooperation with the Euro Area Business Cycle Network (EABCN), Kyiv, 25 November 2022.
And if we keep the patient on medicine for too long, withdrawal symptoms will increase. On the other hand, if we retract policy support too quickly, there is a good chance that the patient will stumble and fall, putting a healthy recovery back for many months.