If approved, this reform may substantially boost investment for several years and reduce the costs of basic productive inputs, yielding wide benefits to the economy. Inflation and monetary policy During the last decade, monetary policy has been oriented towards achieving a three percent permanent inflation target.
* * * Dear colleagues,  Please be informed that the Board of the National Bank of Ukraine has decided to cut the key policy rate to 17.5% per annum. Inflation has been on a steady decline towards the 5% target, allowing the NBU to launch a cycle of key policy rate cuts.