The National Bank of Ukraine highlighted a column in UK-based Central Banking by Volodymyr Lepushynskyi, Director of the Monetary Policy and Economic Analysis Department, focusing on how central banks should communicate during periods of uncertainty and major shocks. The piece covers the role of communications in crisis conditions, when a central bank should publish an alternative scenario alongside its forecast, how to communicate about monetary policy instruments, and how to communicate indicators that materially affect inflation but fall outside the central bank’s mandate.
National Bank of Ukraine 2025-10-14
National Bank of Ukraine’s Volodymyr Lepushynskyi sets out central bank communication priorities in Central Banking column
Volodymyr Lepushynskyi of the National Bank of Ukraine discussed central bank communication strategies during uncertainty and major shocks in a column for Central Banking. The article addresses crisis communication, the publication of alternative scenarios, and the handling of indicators impacting inflation outside the central bank's mandate.