The reduction of the refinancing rate in Belarus depends on the macroeconomic situation, BelTA learned from Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Pavel Kallaur on 5 May. Belarus' key interest rate is supposed to stay at 23-25% in 2015. At present the refinancing rate is 25%. “Taking into account our projections the figure will have to go down. When it will do so and how fast it will do it will depend on the development of the macroeconomic situation,” said Pavel Kallaur. “The reduction [of the key interest rate] is part of the projections. Depending on the situation we will make relevant decisions,” said the head of the country's central bank. Targets set by this year's major monetary management guidelines have been updated. It is inadvisable to stick to the previously specified refinancing rate of 15-16% in the present conditions, noted Pavel Kallaur. “We should practice an extremely balanced approach to the interest rate policy taking into account priority tasks. And reducing inflation is a priority,” stressed the NBRB head.
Written by belta.by
