On 1 June 2011 the National Bank of Belarus increases the refinancing rate by 2 percentage points to 16% per annum, BelTA learned from the information department of the National Bank.
Corresponding resolution No. 200 of 30 May 2011 was adopted by the Board of the National Bank taking into account the continued growth of consumer prices and high inflationary expectations.
"The increase in the refinancing rate, and correspondingly in the interest rate on deposits is aimed at increasing the yield of deposits in Belarusian rubles and strengthening the protection of savings in rubles against inflation," noted the bank.
The National Bank will continue to pay close attention to the safety and attractiveness of household and corporate ruble-denominated deposits in banks.
A reminder, on May 18 the refinancing rate was raised to 14%.