OREANDA-NEWS. At a regular meeting, the National Bank of Ukraine Council (hereinafter - the Council) has considered the progress in implementation of the Monetary Policy Fundamentals for 2014 and the effects on the social and economic development of the country, as well as a number of topical issues related to the regulator's operations.

Having discussed the above matters, the Council acknowledged that the monetary policy implementation in January - October 2014 did not fully conformed to provisions of the Monetary Policy Fundamentals for 2014.

As Stanislav Bukovynskyi, Chairman of the Council, has mentioned, the Council will recommend the National Bank of Ukraine Board to apply urgent anti-crisis measures and be proactive in order to curb devaluation and inflation processes.

Also, the Council approved changes to the National Bank of Ukraine budget for 2015.

In view of cost saving in 2014, the Council also approved amendments to the National Bank of Ukraine budget for 2014. The National Bank of Ukraine is expecting considerable growth of that part of 2015 estimated retained profit, which is to be transferred to the State Budget of Ukraine. However, it was decided to finalize this issue and adjust indicators upon the results of the current year.

The Council has approved its 2015 action plan, plan of internal audits of the NBU subdivisions in 2015, and the organizational chart of the NBU Council Office.

The Council Chairman Stanislav Bukovynskyi has stressed that the recovery of public confidence in the banking system is currently very important, and every authority should focus on this goal. "An important aspect here is a stronger role of the National Bank of Ukraine Council in ensuring macrofinancial stability in the country to facilitate higher efficiency of monetary policy and preserve public confidence in the financial sector".

As a side note, the Council members Andrii Portnov and Valerii Khoroshkovskyi were dismissed in accordance with Decree No.940/2014 of the President of Ukraine Petro Poroshenko.