Stelmakh: On currency regulation and kursoobrazovaniyu NBU Council may make recommendations to the board only

With regard to policy and currency regulation kursoobrazovaniya Council of the National Bank of Ukraine may make recommendations to the board only. The statement was made by Vladimir Stelmakh commenting suspensory veto NBU Council this spring to address the board on the strengthening of the official hryvnia rate to 4.85 UAH /$ 1 5,05 grn /$ 1, at which she held since April 2005.

Stelmakh stressed that the fact that the National Bank at that time impose suspensive veto on the decision of the board of strengthening hryvna course, has no connection with the desire to avoid the revaluation rate.

She just wanted to postpone the time for a few days. We have offered to collect the Council on such and such a question. At that time, one oligarch to sell another 58 million dollars, and the seller did not want to lose money on operations. When we sat down and analyzed the situation, the decision of the NBU Board was unanimous: it is necessary to overcome a veto, - he explained.

head of the NBU said that in accordance with paragraph 9 of Article 9 of the National Bank, the Council may give the board NBU NBU only recommendations in the framework of monetary policy in the policy kursoobrazovaniya and exchange controls, and the right to suspensive veto to the competence of government does not apply.
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Vladimir Stelmakh stressed that at present there were no significant differences between the Council and the National Bank does not exist.

Evidence of that - a positive assessment of the Council of action by the Board on the implementation of the Basic directions of monetary policy in 2009, - he said.

addition, the head of the National Bank of Ukraine stressed that according to the article. 100 of the Constitution of Ukraine NBU Council is empowered to supervise the conduct of monetary policy.

Those who are trying to give these functions to other bodies (including the temporary commission of Parliament), made it to the Constitution of Ukraine, - he explained.

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