09.11.2011
Belarus’ National Bank to raise refinancing rate to 40% p.a. 11 November
MINSK, 9 November (BelTA) – On 11 November 2011 the National Bank of Belarus increases the refinancing rate to 40% per annum. Relevant resolution No. 503 was adopted by the Board of the National Bank on 8 November 2011, BelTA learned from the information department of the National Bank.
Simultaneously the Monetary Policy Committee of the National Bank decided to raise interest rates for liquidity management operations.
Interest rates on constantly available liquidity support operations have been raised to 60% per annum, on constantly available liquidity withdrawal operations up to 30% per annum
“Another increase in the refinancing rate and liquidity management rates is meant to curb inflation and stabilize the economic situation. This move is expected to maintain the growth in fixed-term household deposits in Belarusian rubles, play down inflation expectations and improve the balance of payments,” the press service of the National Bank informed.
The National Bank will remain committed to a balanced monetary policy that emphasizes stable pricing.
Simultaneously the Monetary Policy Committee of the National Bank decided to raise interest rates for liquidity management operations.
Interest rates on constantly available liquidity support operations have been raised to 60% per annum, on constantly available liquidity withdrawal operations up to 30% per annum
“Another increase in the refinancing rate and liquidity management rates is meant to curb inflation and stabilize the economic situation. This move is expected to maintain the growth in fixed-term household deposits in Belarusian rubles, play down inflation expectations and improve the balance of payments,” the press service of the National Bank informed.
The National Bank will remain committed to a balanced monetary policy that emphasizes stable pricing.