the entire financial system, not just banks, but other financial institutions as well, more reliable and technologically advanced. all customers must be confident that they will get high - quality services. and know for sure that they won ’ t be cheated. this will only happen when standards and requirements for service providers are transparent, understandable and the same for all. a regulator that has zero tolerance of the non - market behavior of financial institutions will be watching over companies. i can guarantee that. what is more, financial services will be available online from all devices, be it a laptop, a smartphone, or an ipad. people will be able to get the services they need. in this regard, ukraine will be on a par with countries where financial services and fintech are developing rapidly. fourth. we want ukrainian financial services to be fully in line with european standards. this will instill more confidence in clients. and this is ukraine ’ s direct commitment under the eu - ukraine association agreement. we are gradually discharging our obligations in order to enable ukraine to integrate into the eu ’ s financial environment. and finally, the fifth goal. we are seeking to enhance trust in the financial market. there are many reasons why ukrainian sometimes take a cautious approach to financial services, and may not be always prepared to be the clients of banks, insurance companies, and pension funds. the main culprits are the financial crises ukrainians had to go through, which may have led to a negative experience or even financial losses. our task is to minimize negative experiences and to ensure reliable protection of the rights of financial services consumers. and not just by words, but by deeds. this will be the financial system ’ s contribution to restoring confidence in the state. we hope that by 2025 we ’ ll be able to : generally increase the ease of doing business in ukraine and attracting foreign investment make financial services reliable and transparent, while decreasing the cost of cashless payments provide remote access to such services and more. overall, it ’ s not an exaggeration to say that the 2025 strategy is a synonym for the continued development of the financial sector and the entire ukrainian economy. if you go through the strategy, you will see that the roadmap for specific changes we want to implement accounts for 3 / 4 bis central bankers'speeches more than half of the document. and we have already started. the nbu, for example, has as usual drawn up an action plan for the current year and reported on

andriy pyshnyy : national bank of ukraine press briefing - monetary policy decisions speech by mr andriy pyshnyy, governor of the national bank of ukraine, at a press briefing on monetary policy decisions, kyiv, 25 january 2024. * * * dear colleagues, the board of the national bank of ukraine has decided to keep its key policy rate at 15 % per annum. this decision comes along with the need to maintain exchange rate sustainability, keep inflation moderate in 2024, and bring it to the target range of 5 % ± 1 pp over the monetary policy horizon. despite russia continuing its aggression against ukraine, the inflationary pressure eased significantly last year, including due to the nbu's consistent monetary policy inflation slowed to 5. 1 % yoy in november and stood at this level in december. good harvests and lower global energy prices were major factors behind the decrease in the pressure on prices. the moratorium on tariff increases for certain utilities played an important role. at the same time, a decline in core inflation to 4. 9 % as of the year end also points to a sizeable contribution made by the nbu's consistent monetary policy, in particular measures to ensure exchange rate sustainability and attractiveness of hryvnia assets. these measures helped improve exchange - rate and inflation expectations. despite the expected acceleration of inflation in 2024, it will remain moderate and will return to the target range in 2025 inflation will be within the target range in the coming months. from the middle of the year, it will accelerate somewhat as effects of last year's bumper crops wane. additional pressure on prices will come from the further recovery in consumer demand, as well as the pass - through of business costs to consumer prices, in particular due to persistently high security risks and wage increases. however, inflation will remain moderate, in part due to the nbu's measures to maintain exchange rate sustainability and the attractiveness of hryvnia assets. inflation is expected to reach 8. 6 % as of the end of the year. in 2025, it will return to its target range, slowing to 5. 8 % as of the end of the year. in 2026, inflation will meet the target of 5 %. this will be primarily driven by a decline in security risks, which is assumed by the forecast. it will ensure an overall improvement in expectations, and will allow restoring the logistics and production processes. the price pressure