Digitalisation of Monetary Policy as a Factor in Ensuring Financial Stability in Ukraine

Abstract

The study's relevance is driven by the need to ensure Ukraine's financial stability in the face of global challenges and internal crises. The digitalisation of monetary policy is emerging as a key tool for improving the efficiency of monetary regulation, which contributes to the transparency of financial transactions, improving the monitoring of macroeconomic indicators and accelerating management decision-making. The article analyses the current state of implementation of digital technologies in Ukraine's monetary policy and identifies the main problems that hinder its development.

The article's purpose is to analyse the key aspects of digitalising monetary policy and develop recommendations for optimising it in the context of economic instability.

Research methods. The paper uses systematic and comparative analysis to study national and international experience and a structural and functional approach to assess digital solutions in the financial sector.

Results. The study shows that the main elements of monetary policy digitalisation in Ukraine are the Digital Hryvnia project, the electronic payment system, and the cashless payment infrastructure, including POS terminals and QR codes. The use of these tools helps to speed up financial transactions and expand access to financial services. However, significant challenges exist, such as imperfect legal frameworks, insufficient cybersecurity, and poor coordination between regulators and financial institutions.

Conclusions. To successfully implement digital solutions in Ukraine's monetary policy, it is necessary to develop a comprehensive legal framework, create platforms for monitoring financial flows in real time, and introduce a national instant payment system. Particular attention should be paid to improving the level of cybersecurity of payment systems and providing professional training for staff to work with digital financial services.

Further research prospects include creating models for forecasting macroeconomic risks using artificial intelligence and studying the impact of innovative financial technologies on the effectiveness of monetary regulation.