According to Nikolaichuk, the NBU seeks to meet its inflation targets not through administrative restrictions but through consistent monetary policy. At the same time, sharp price jumps, particularly in utility tariffs, create additional risks for the economy.
«If some tariffs do not change for several years and then rise several times over, that is not a situation that allows us to manage inflation properly»he explained
The National Bank says the current subsidising of utility prices is expensive for the state. It puts pressure on the budget and on quasi-fiscal balances.
«Sooner or later all this will have to be levelled out anyway»the NBU official believes
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