The National Bank Council at its meeting on Monday discussed the latest macroeconomic indicators and most recent developments in Ukraine and consequences on the domestic economy, news agency MIA informs.

The National Bank will continue to closely monitor the development of events, which are changing continually. Given the minor connection of our economy with the economies of Russia and Ukraine, no direct impacts are expected, however indirect ones are possible.

Recent developments are particularly affecting the global energy and food markets, which, together with growing uncertainty, could worsen the growth prospects of the European and world economies, the National Bank said in a press release.

According to the central bank, the stability of the financial system is support for the domestic economy. The protection measures in our financial system are adequate and will continue to operate smoothly and provide support to the economy.

There is no Russian or Ukrainian capital in the ownership structure of our banks, so from that point of view there is no exposure to the stability of the domestic banking system. During the meeting, the Council concluded that the foreign reserves are maintained in the safe zone and provide sufficient foreign exchange liquidity of the domestic economy and stability of the domestic currency.

At its meeting, the Council also discussed other matters related to regular operation of the central bank, whereby the financial statements of the National Bank and the Annual Account for 2021 were adopted.