On May 11, Minsk /BelTA correspondent/. The refinancing rate of the National Bank of Belarus will be increased by 1 percentage point to 14% per annum from May 18, the Information Department of the National Bank informed a BelTA correspondent. This decision was made taking into account the significant increase in consumer prices in Belarus this year. "An increase in the refinancing rate, and consequently in the interest rate on deposits, will enhance the protection of ruble deposits against depreciation, increase their profitability, and also contribute to stimulating the inflow of funds into banks," the National Bank noted. "This will positively affect the expansion of the resource base of credit and financial institutions and their capabilities to meet the demand of the population and enterprises for banking services. The National Bank will continue to maintain the level of interest rates that ensures the safety and attractiveness of ruble deposits of individuals and organizations in banks.-0-

BELTA