In addition, in terms of policy instruments, ensuring the efficiency of the transmission channel due to the accumulated structural surplus of liquidity calls for unconventional methods. Fortunately, history has many successful examples of combating persistent and excessive inflation and embarking on a path of sustainable development. Forty years ago, developed countries took the path of reducing inflation.
In addition, today we have a large number of emerging markets whose experience can become key to the global stabilization of economic and inflationary processes. Ukraine has this experience too. The NBU has proved its capability to tame and curb inflation during the war.