18 August, Minsk /BELTA correspondent/. The refinancing rate of the National Bank of Belarus has been reduced by another 0.5 percentage points from August 18 and stands at 11% per annum. The corresponding resolution of August 9, 2010, No. 335, was adopted by the board of the country's main banking institution, BELTA was informed by the information department of the National Bank. The next change in the refinancing rate is aimed at reducing the overall level of interest rates in the economy. This is an important factor in ensuring economic growth, modernization and structural restructuring of production in order to reach a qualitatively new level of socio-economic development of Belarus. The stable economic situation developing in the country, including the low intensity of inflationary processes, also contributes to the reduction of the overall level of interest rates. At the same time, a positive real interest rate on bank ruble deposits is maintained, which is significantly higher than the yield from storing funds in foreign currency. In the first half of 2010, the National Bank lowered the refinancing rate three times - from 13.5% in January to 12% per annum in June. From July 14, it was reduced by another 0.5 percentage points to 11.5%. Thus, according to this indicator, the National Bank has entered the corridor defined by the Main Directions of Monetary Policy for 2010 (9-12%).-0-

BELTA