The National Bank of Ukraine reviewed the conclusions of its 10th Annual Research Conference, held online on Sept. 21–22, where central bankers, international policymakers and researchers examined how monetary authorities should respond to increasingly frequent shocks. Participants emphasized that policy flexibility must remain anchored in price stability and institutional independence, while credibility depends on openness, accountability and consistent mandates. Technological innovation, including artificial intelligence, should expand central banks’ capabilities without weakening their responsibility for policy outcomes. Ukraine’s wartime experience illustrated the value of building resilience before a crisis through banking reforms, stronger supervision, reserve accumulation, digital infrastructure and central bank independence. Participants also highlighted the need to adapt emergency measures as conditions evolve, invest in data and professional expertise, and maintain credibility with citizens, businesses and international partners. Speakers stressed that credibility takes years to establish and allows changing policy actions to remain understandable as serving a consistent objective.
National Bank of Ukraine conference emphasizes anchored flexibility, credibility and responsible innovation in responding to shocks
The National Bank of Ukraine’s annual research conference concluded that central banks need flexibility anchored in price stability and institutional independence to manage persistent shocks. Ukraine’s wartime experience highlighted the importance of prior reforms, adaptable crisis measures, institutional expertise and credibility, while discussions on artificial intelligence stressed responsible innovation.