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| Refinancing rate in Belarus at 25% as from 9 January |
| Minsk, 09.01.2015 |
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| On 9 January the refinancing rate in Belarus will make up 25% per annum, up 5 percentage points, BelTA learned from the information and public relations Department of the National Bank of the Republic of Belarus.
The National Bank took a number of decisions on the interest rate policy to ensure the financial and macro-economic stability, to slow down inflation and balance the interests of depositors and borrowers. "Thus, on 9 January the refinancing rate will be increased by 5 percentage points to 25% per annum. On 14 January 2015 the interest rates on constantly available and two-way current liquidity support transactions will be reduced from 50% to 40% per annum, the rate on overnight deposits will go up to 20% per annum,” informed the National Bank.
On 9 January the upper limit of the interest on deposits of legal entities will be reduced from 50% to 40% per annum. The upper interest limit on ruble deposits of individuals remains at the level of 50%. As the situation gets stabilized, this limit will be reduced as well.
"In order to mitigate the negative impact of the weakening exchange rate on the liquidity of banks, the requirement for the minimum fraction of borrowed funds in foreign currency to be deposited in the National Bank (reserve requirements) will be relaxed: from 13% to 12.5% in January, down to 10% in February. This measure will support the sustainability of the banks given the lack of ruble-denominated funds in December 2014,” the National Bank said.
The National Bank and the Government will continue to take consistent measures to improve the macroeconomic balance and strengthen the stability in the financial and foreign exchange markets of the Republic of Belarus.
(BelTA) |
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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