OREANDA-NEWS. On November 12 the National Bank of the Republic of Belarus (NBRB) will raise the refinancing rate by 0.25 percentage points to 11% per annum.

The decision is aimed at increasing the profitability of the savings in the national currency and at further strengthening of the financial stability. The decision is laid down by resolution No 163 of the NBRB Board of Directors.

The increased rate of refinancing and respectively the interest rates will stimulate an inflow of savings. This, in turn, will bear well on the resource base of the banks and will also increase the opportunities to satisfy the demand of individual and corporate clients for banking services.

The National Bank intends to maintain the level of interest rate that stimulates the growth of deposits of individual and corporate clients in the banks.

A reminder, the NBRB refinancing rate has been 10.75% per annum since October 15, 2008.