The National Bank of Ukraine (NBU) today announced a new measure on its path towards an inflation-targeting regime by mid-2015 – even as it continued to intervene in the foreign exchange market in an attempt to smooth "excessive volatility", which has no basis in fundamentals, according to governor Valeria Gontareva.
The volatility in the foreign exchange market has led Gontareva to warn that if it gets worse, the NBU will have to impose "administrative restrictions" on foreign exchange trading,
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