KIEV, Feb. 25 – The Council of the National Bank of Ukraine has recommended that the central bank's board increase the flexibility of monetary instruments to support government policies.

"We should strengthen the flexibility of the application of monetary mechanisms and instruments, taking into account the necessity to provide the more efficient support of the economic policy of the Cabinet of Ministers, which aims for economic growth, although within limits that do not create risks to achieving price stability," reads the report of the NBU Council.

In addition, the council said that it is applicable to take measures by the NBU to upgrade the national mass electronic payment system, including ensuring the acceptation and processing of cross-border transactions with the attraction of the international payment systems and fulfilling the function of information cooperation between banks and power agencies.