The Parliament approved the Draft Resolution on the Main Directions of Monetary and Exchange Rate Policies for 2026-2028 of the National Bank with 76 votes.

According to the Resolution:

The inflation target index for 2026-2028 is 3%;

2. In order to maintain the inflation target rate in the medium term, the National Bank will mainly use the monetary policy rate (refinancing rate) during the years 2026-2028, the change of which is transmitted to the economy by the following instruments of monetary policy: refinancing loans, one-month open market instrument, standing instruments, certificates of deposit, secondary market operations in government securities, foreign exchange interventions, minimum reserve requirements etc.;
3. Changes in the prices of energy resources, raw materials and food products on world commodity markets are possible risks affecting the expected dynamics of consumer prices from external factors during 2026-2028, aggravation of geopolitical risks, changes in regulated prices, global economic fragmentation and more. The monetary policy of the National Bank will not react to a temporary deviation from the target inflation rate as a result of external factors, unless the deviation is so strong that it affects the fundamental factors affecting inflation.

Prior to the voting for the resolution, the Parliament heard the report of the President of the National Bank, Natia Turnava.

She provided the accounts on the inflation target rate, key instruments of the monetary policy to be used by the NB for the achievement of the target inflation, and the possible risks.