Economics
Ukraine’s New Central Bank Boss Touts Independence After Shakeup
- Shevchenko ‘ready’ to defend bank from outside influence
- Investors will be watching Sept. 3 rate meeting with new board
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The new head of Ukraine’s central bank rejected concerns that his arrival raises the risk of government meddling in monetary policy -- something that could jeopardize billions of dollars of foreign aid.
President Volodymyr Zelenskiy handpicked Kyrylo Shevchenko to take charge after sparring with the previous governor over what he deemed excessively high borrowing costs and a national currency whose strength was harming exporters. But Shevchenko, 47, has so far stood by the bank’s existing stances on those matters. Citing an admiration for Germany’s Bundesbank, he says he’s prepared to repel any pressure from outside.