NBU Council Chairman Danylyshyn considers hryvnia strengthening unfounded

Chairman of the Council of the National Bank of Ukraine (NBU) Bohdan Danylyshyn has said there are no fundamental grounds for hryvnia strengthening to the dollar, which is being observed this year.

Danylyshyn wrote on Facebook, as before, he considers the NBU's monetary policy too tight, which leads to the suppression of industry.

Read alsoUkraine's hryvnia may strengthen to UAH 22-UAH 23 per U.S. dollar in H1 2020 – expert

In addition, he branded inflation targeting by the NBU an "experiment" and compared it with the Michelson-Morley experiment, which at the end of the 19th century could not prove the existence of the ether.

"I wish nothing similar happens with the experiment the NBU board is conducting with the implementation of orthodox inflation targeting in the country, an overly tight monetary policy and, in addition to this, indicative non-interference in strengthening the hryvnia, which is not founded by fundamental factors," Danylyshyn said.