15 September, Minsk /BELTA correspondent/. The refinancing rate of the National Bank of Belarus has been reduced by 0.5 percentage points to 10.5% per annum from September 15, the Information Department of the National Bank informed a BELTA correspondent. This decision was made by the Board of the National Bank, taking into account the stable positive dynamics of key macroeconomic indicators and the relatively low level of inflation in the country. "The reduction in the refinancing rate is primarily aimed at further reducing the cost of bank loans for the population and economic entities," the National Bank noted. "At the same time, the sufficiently high level of real interest rates on deposits of the population in Belarusian rubles will reliably protect citizens' savings from inflation and maintain a significant excess of profitability of ruble deposits compared to deposits in foreign currency." Since the beginning of 2010, the National Bank has lowered the refinancing rate five times - from 13.5% in January to 11% per annum in August. Thus, according to this indicator, the National Bank has entered the corridor defined by the Main Directions of Monetary Policy for 2010 (9-12%). In accordance with the draft Main Directions of Monetary Policy of Belarus for 2011, the National Bank's refinancing rate at the end of 2011 is planned to be within the range of 8-10%.

BELTA