On September 12, Minsk /BelTA correspondent/. The Board of the National Bank of Belarus has decided to further increase the refinancing rate - from September 14, it will increase by 3 percentage points and will amount to 30% per annum. This was reported to a BelTA correspondent by the information department of the National Bank. "This measure is being introduced ahead of the opening of an additional trading session on the Belarusian Currency and Stock Exchange and is an important element of the overall economic policy aimed at stabilizing the situation on the currency market and the financial recovery of the economy as a whole," the bank explained. The National Bank believes that the consistent increase in the cost of borrowed money in the economy "is designed to have a further restraining effect on the demand of bank clients for credit resources during the period of transition to a single exchange rate." At the same time, the increase in the refinancing rate will become an additional factor in stimulating savings processes in Belarusian rubles and reducing pressure on the exchange rate. "The National Bank will continue the consistent implementation of measures within the framework of the policy coordinated with the government to ensure economic and financial stabilization in the country," the National Bank assured. -0-

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