4 April, Raubichi /Olga Belyavskaya - BELTA/. The National Bank plans to reduce the refinancing rate by 1-2 percentage points per month, stated the Chairperson of the Board of the National Bank of Belarus, Nadezhda Ermakova, at a press conference today, as reported by a BELTA correspondent. "The refinancing rate will be reduced by 1-2 percentage points per month to reach the planned level of 19-22% by the end of the year," said Nadezhda Ermakova. The Head of the National Bank explained that the pace of reduction of the refinancing rate, in accordance with international recommendations, is determined taking into account the inflation level calculated for 6 months. "Three months have already passed, and in another 3 months, we will reach an inflation rate closer to real life, and based on this, we will determine the refinancing rate," explained Nadezhda Ermakova. "It should be slightly higher than the inflation rate – by 2-3-5 percentage points." In case of inflation growth, regardless of monetary factors, under the influence of administrative price increases, the National Bank reserves the right to increase the refinancing rate as well. "But based on today's forecast and considering that we must, one way or another, align prices for certain goods with our partners in the Single Economic Space, we see that the rate will be reduced," she emphasized. At the same time, Nadezhda Ermakova did not rule out that by July 1, the refinancing rate could be reduced to 30-32% per annum. "This may happen if no disruptions occur," she summarized. -0-

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