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NBRB to consider lower refinancing rate next week

MINSK, 3 May (BelTA) – There are plans to discuss the possible reduction of the refinancing rate next week. The information was released by Chairwoman of the Board of the National Bank of the Republic of Belarus (NBRB) Nadezhda Yermakova on 3 May, BelTA has learned.

“I think next week we will have reasons to consider the reduction of the refinancing rate,” said the official.

“We see that the refinancing rate is considerably behind the inflation rate,” added the NBRB head.

The previous time the key bank lending rate was reduced by 1.5 percentage points to 27% per annum in Belarus on 17 April.

Plans have been voiced to reduce the refinancing rate to 13-15% per annum in 2013. Meanwhile, NBRB representatives have stated repeatedly that the refinancing rate will depend on the macroeconomic situation, primarily foreign trade and the currency market, as well as the actual inflation level.