This paper examines whether the National Bank of Ukraine’s policy remained rule-like through institutional reform, external constraints, and war. Using monthly data for 2009–2026, we estimate dynamic open-economy Taylor-type rules with inflation, economic activity, exchange-rate, and regime-interaction terms. Policy-rate persistence is strong, while the estimated inflation response changes across regimes and is largest during the full-scale war. The largest rule deviations occur during the 2015 currency crisis, the initial 2022 policy-rate freeze, and the June 2022 tightening. Descriptive event accounting links these episodes to institutional and geopolitical constraints. The evidence is consistent with state-contingent adaptation rather than a wholesale suspension of rules, with implications for monetary credibility and Ukraine’s prospective European integration.