15 February, Minsk /BELTA correspondent/. The refinancing rate in Belarus has been reduced by 2 percentage points to 43% per annum from 15 February. This was reported to a BELTA correspondent by the Information Department of the National Bank. This decision is contained in Resolution No. 35 of the Board of the National Bank of Belarus dated 7 February 2012. "A reduction in the refinancing rate will help to decrease the credit burden on borrowers. At the same time, the terms of ruble deposits offered by banks to the public will continue to provide significantly higher returns compared to deposits in foreign currency and the expected inflation rate," the Information Department of the National Bank noted. The future dynamics of the refinancing rate will depend on the prevailing situation in the monetary and credit sphere and the economy as a whole. "In recent months, stable positive trends have been observed in the economy and monetary and credit sphere of Belarus," the Information Department of the National Bank stressed. Inflationary processes have slowed down, with the growth of consumer prices in December 2011 - January 2012 decreasing to a level of about 2% per month. As a result of increased supply of foreign currency in the domestic foreign exchange market, the exchange rate of the Belarusian ruble remains stable. A steady growth in ruble deposits in banks is observed, primarily in term deposits of the public. "As positive trends strengthen, the National Bank plans to continue the gradual reduction of the refinancing rate and the overall level of interest rates in the economy," the Information Department of the National Bank reported. -0-

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