Прогнозування: сутність і значення для реалізації монетарної політики
Forecasting: The essence and significance of monetary policy implementation

Summary/Abstract: The authors have demonstrated the importance of anticipating monetary policy implementation. The authors have determined that managing economic entities’ expectations through developing appropriate forecasts enables financial market participants: to evaluate the regulator’s vision of the content of monetary policy aimed at bringing the inflation to an established goal; to make informed investment decisions; and to improve the effectiveness of the key rate’s impact on market interest rates, the cost of financial resources, and the inflation. Forecasts are noted for their erratic nature. The article describes phases of the forecast execution and monetary policy decision-making. The authors have demonstrated the relevance of the assumptions, the quality of the original data, and the expert judgment throughout the forecasting process. Forecasting hubs have been discovered in Ukraine. The article discloses the relationship between the National Bank’s aims and the principles of the National Bank’s monetary policy. The authors have made corresponding recommendations to improve macroeconomic forecasting.

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