National Bank of Ukraine Hosts Open Research Seminar
On November 12 at 4:00 PM, the National Bank of Ukraine will hold an open research seminar focusing on the evolution of its monetary communication during the full-scale war. The event will be conducted online in English, featuring Bogdan Chepyha, representing both the National Bank of Ukraine and the Vasyl Stefanyk Precarpathian National University.
Seminar Focus
The seminar will examine how the ongoing war has impacted Ukraine's monetary policy and the operational environment of the National Bank. Key topics include:
- The transition from an inflation-targeting regime to a fixed exchange rate;
- The subsequent shift toward a managed floating exchange rate;
- And the eventual return to flexible inflation targeting.
This analysis is based on 43 Inflation Reports published by the National Bank between 2015 and 2026, utilizing a large language model (LLM) to provide deeper insights.
The seminar will also address several crucial questions, such as:
- The role of artificial intelligence in analyzing central bank monetary communication;
- How wartime conditions and changing monetary regimes have reshaped the National Bank's communication priorities;
- The alignment between the Bank's communication signals, its monetary policy decisions, and broader macroeconomic conditions;
- And the potential benefits and limitations of applying large language models to study central bank communications.
This event represents a significant step toward understanding the adaptations in Ukraine's monetary policy during wartime, which are critical for maintaining the nation's economic stability. Additionally, exploring AI-driven analysis of the National Bank's communications may pave the way for innovative research methods and improved monetary policy strategies in the future.
As the National Bank of Ukraine adapts its monetary policy in response to the ongoing conflict, understanding the recent changes in interest rates becomes crucial. The adjustment of the key interest rate to 16.5% highlights the institution's efforts to navigate economic challenges and support businesses during these turbulent times, further emphasizing the importance of the upcoming seminar on monetary communication shifts.