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National Bank of Belarus hikes discount rate by 5%

October 13, 2011, 20:21 UTC+3
The resolve of the National Bank to continue working together with the government towards stabilization with due account of external and domestic economic processes
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MINSK, October 13 (Itar-Tass) — National Bank of Belarus has hiked the discount rate by 5% to 35%, officials at the bank’s information department told Itar-Tass Thursday.

“This decision signals a yet another step in the persistent efforts to implement the National Bank’s and the government’s general economic policy line aimed at macroeconomic stabilization, a decrease of pressures on the exchange rate of the Belarussian ruble, and the cutting down of inflation,” an official said.

He stressed the resolve of the National Bank to continue working together with the government towards stabilization with due account of external and domestic economic processes.

The previous increase of the discount rate occurred September 14 when it was raised to 30% annual.

 

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