If existing promises need to be changed, those changes should be made sooner rather than later. We owe future retirees as much time as possible to adjust their plans for work, saving, and retirement spending. They need to ensure that their personal resources, along with what they expect to receive from the government, will be sufficient to meet their retirement goals.
These countries are also trying to find the reasonable boundary beyond which productive stimulus to the economy becomes an excessive desire to flood the economy with money, which could undermine macrofinancial stability. In view of the above, the NBU continued to ease monetary policy, by cutting the key policy rate by 2 pp, to 8%.