16 June, Minsk /BelTA correspondent/. The refinancing rate of the National Bank of Belarus will be increased by 2 percentage points from 22 June 2011, reaching 18% per annum. As reported to BelTA by the information department of the country's main banking institution, the corresponding decision is enshrined in the resolution of the Board of the National Bank dated 14 June 2011 No. 230. The National Bank explained that this decision was made as part of a consistent policy aimed at increasing the profitability of deposits in Belarusian rubles and strengthening the protection of ruble savings in banks against inflationary processes. At the same time, the phased increase in the refinancing rate takes into account the interests of credit borrowers, giving them time to adapt to the new economic conditions. The National Bank will continue to pursue a balanced interest rate policy, paying special attention to the preservation and attractiveness of ruble deposits of individuals and organizations in banks. As a reminder, from 1 June, the refinancing rate was increased from 14% to 16% per annum.-0-

BelTA