MINSK, 16 April (BelTA) – The National Bank of the Republic of Belarus decided to reduce the country’s refinance rate by 1 percentage point to 22.5% on 16 April. The relevant decision has been adopted by the Board of the central Bank and enshrined in Resolution No.217 of 4 April 2014, BelTA has learnt.
According to the National Bank, the reduction of the country’s main interest rate is triggered by objective reasons. “Today there is an opportunity to reduce the refinance rate while preserving a tough monetary policy,” First Deputy Chairman of the Board of the National Bank Taras Nadolny said. “Proceeding from the fact that the level of inflation is on a decrease, the opportunity for a 1%-reduction of the refinance rate is quite objective,” he added. The official noted that these measures can also be explained by a stabilizing situation on Belarus’ monetary market.
Last time the main interest rate was cut down to 23.5% in June 2013.
Новости Беларуси (БЕЛТА)