NBU jumps into secondary local sovereign bond market

The National Bank of Ukraine announced in a letter on Friday that as of September it is planning to offer trade in local sovereign bonds it holds on the secondary market, newspaper Ekonomicheskie Izvestia reported. The NBU will offer quotations on the issues in its portfolio. Mykyta Mykhaylychenko: The effectiveness of this action will depend on the exact terms, though the NBU’s monetary policy remains dominated by interventions on the domestic F/X market and the regulator’s desire to keep the hryvnya exchange rate from excessive volatility.