9 November, Minsk /BELTA correspondent/. The National Bank of the Republic of Belarus will increase the refinancing rate by 5 percentage points from 11 November 2011, from 35% to 40% per annum. The corresponding resolution No. 503 of 8 November of the current year was adopted by the Board of the National Bank, the Information Department of the National Bank informed the BELTA correspondent. At the same time, the Monetary Policy Committee of the National Bank decided to increase the interest rates on liquidity regulation operations from 11 November of the current year. Interest rates on standing facilities for liquidity provision and on bilateral operations to support liquidity have been increased to 60% per annum, and on standing facilities for liquidity withdrawal – to 30% per annum. "The next increase in the refinancing rate and the rates on liquidity regulation operations is a consistent step towards curbing inflationary processes and stabilizing the situation in the economy and the financial sphere as a whole. This measure will also support the growth of term ruble deposits of the population in banks, which has resumed in recent months, stabilize inflation expectations in the economy, and will also become an additional factor in strengthening the balance of payments," the Information Department of the National Bank explained. It was emphasized that the National Bank will continue to pursue a balanced monetary policy, paying special attention to the need to ensure price stability in the economy. -0-

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