April 2, Minsk /Anna Kot - BELTA/. The National Bank of Belarus sees an opportunity to lower the refinancing rate in the near future. This was announced today to journalists in parliament by the Chairperson of the Board of the National Bank, Nadezhda Ermakova, as reported by a BELTA correspondent.
Commenting on the statement by the head of the International Monetary Fund mission in Belarus, David Hoffman, according to which the last reduction of the refinancing rate in Belarus in March from 30% to 28.5% per annum was premature and the National Bank should consider a possible increase in interest rates, Nadezhda Ermakova noted: "We must listen to everyone, but have our own mind and make decisions that are beneficial to us."
"I think the rate has prospects for reduction, considering the inflation that has developed over 20 days of March in the country," said the head of the National Bank. The decision will be made after the inflation rate for March is published. "But according to our calculations, the rate will have an opportunity for reduction," added Nadezhda Ermakova. At the same time, she was unable to say how much the rate might be reduced.
As for a possible increase in the refinancing rate, it will definitely not happen this month. In the future, the dynamics will depend on the developing situation in the financial market and the economy as a whole, and the inflation rate.
The refinancing rate was reduced in Belarus on March 13, 2013 - from 30% to 28.5% per annum; prior to that, it had not been reduced since September 2012. In general, this year the refinancing rate is planned to be reduced to 13-15% per annum. At the same time, as National Bank representatives have repeatedly stated, the dynamics of the refinancing rate will depend on the macroeconomic situation, primarily in foreign trade and on the currency market, as well as on the level of actual inflation. -0-