OREANDA-NEWS. Refinancing rate of the National Bank is down to 10,5% p.a. as from August 1, 2007, reported the press-centre of National Bank.

The refinancing rate of the National Bank of the Republic of Belarus goes down by 0,25 percentage points to 10,5% p.a., starting from August 1, 2007. On July 25, 2007, the Management Board of the National Bank adopted relevant Resolution No.146.

The Public Relations Office of the National Bank reported that the base rate of the country’s central bank is decreased in accordance with 2007 Monetary Policy Guidelines of the Republic of Belarus. This is facilitated by low inflation rates: CPI grew 3,6% over initial six months of this year and averaged 0,6% per month.

The intended effect of the decrease is primarily to make yet lower interest loans available to individuals and companies. Alongside with that, Br deposits will remain more attractive than deposits in foreign currencies. Moreover, time deposits will generate returns at a rate higher than the inflation rate.