National Bank raised the refinancing rate

As theand the press office of the National Bank today raised the refinancing rate by 1.5 percentage points — from 10.5% APR to 12% APR.

The refinancing rate — the percentage under which the National Bank provides loans to commercial banks, is a basic indicator of dependencies prices of all types of credit.

As the Press Service of the NBB, the decision to raise the refinancing rate of the National Bank decided to "an adequate response to rising inflation, which was observed at the beginning of the year."

"The consumer price index in February of this year was 102.7%, which is mainly due to the increase in tariffs for housing and communal services due to the increase of the purchase price of natural gas imported from Russia, and the impact of increasing world prices for energy and food" — the press-service.

Raising the refinancing rate by 1.5 percentage points due to the need to maintain a money market rates at positive levels in real terms for the reliable protection of ruble deposits in banks with inflation.

As previously reported, in January-February 2011and bank deposits Belarusian rubles rose 11% to 10.9 trillion. rubles as of March 1 2011a.

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