Central banks in the 21^st century often find themselves far from their job description contained in economics textbooks – they have conducted sweeping bailouts and quantitative easing to viral contagion studies and climate policy. But even in an age marked by ‘perma-crisis’ and improvisation, little could have prepared central bankers for the impact of the Russian invasion of Ukraine, launched on February 24, 2022. Ukrainians fled their homeland in numbers not seen since the aftermath of the