MINSK, 15 February (BelTA
) - Today the National Bank of the Republic of Belarus (NBRB) cut the refinancing rate from 45% to 43% per annum, BelTA learnt from the bank’s information department.
Relevant resolution No. 35 was adopted by the Board of the National Bank on 7 February 2012.
“The reduction of the refinancing rate will ease loan debt burden on borrowers. With this, the terms offered to the population on deposits in the national currency still secure higher returns in comparison with foreign currency deposits and the expected inflation rate,” the NBRB said.
Further movements of the refinancing rate will depend on the developing situation in the monetary sector and the economy on the whole.
“Positive trends have been registered in the Belarusian economy and its monetary sector in the recent months,” the bank stressed. Inflation has slowed down. The growth of consumer prices in December 2011-Janaury 2012 reduced to nearly 2% a month. The Belarusian ruble has stabilized due to an increased offer of foreign currency on the national market. The number of household deposits in the national currency has been on the rise.
“The National Bank will continue the reduction of the refinancing rate if the situation remains favorable,” the NBRB emphasized.