Фото: Reform.by
The National Bank of Belarus does not plan to revise the refinancing rate, First Deputy Chairman of the regulator’s Board Aliaksandr Yahorau said. The rate currently stands at 9.75%.
“We set the refinancing rate without looking at anyone else, based on the conditions that are developing in our economy. As for the refinancing rate itself, our forecast is contained in the Main Guidelines of Monetary Policy. Of course, its dynamics and movement will depend on how external and internal conditions evolve. At the moment, we have no plans to revise the refinancing rate,” he said.
According to Yahorau, a downward trend in market interest rates was observed in the fourth quarter. He also noted that the National Bank had taken decisions on calculated standard risk values, which are another instrument for managing interest rates.
“We made decisions on the calculated standard risk values, including with the aim of achieving a certain reduction in interest rates in the economy, primarily for instruments aimed at stimulating economic growth. This refers to support for exports and investment projects,” he added.