EDB admits Belarus may raise refinancing rate
<p> MINSK, Mar 31 - PrimePress. The Eurasian Development Bank (EDB) allows the possibility for Belarus to raise the refinancing rate, said Anatoli Kharitonchik, Senior Analyst of the Centre for Country Analysis of the EDB Directorate for Analytical Work. </p> <p> </p> <p> The official made a statement to this effect while presenting analytical report “EDB Macroeconomic Outlook: Strong Recovery Growth in 2021” on Mar 31. </p> <p> </p> <p> “With high inflation, we expect to maintain tight monetary conditions this year, primarily through the National Bank’s control of money supply. We allow for the probability of an increase in the refinancing rate, including against the background of the expected increase in the key rate in Russia. Gradual normalization of monetary conditions is possible in the second half of 2021 if the situation on the FX market remains stable,” Kharitonchik said. </p> <p> </p> <p> As previously reported, the National Bank on Mar 12, 2021 preserved the refinancing rate at 7.75% per annum, the overnight loan rate at 8.75% per annum and the overnight deposit rate at 6.75% per annum. The aforementioned rates have stayed unchanged since 1 July 2020. Also, the NBB extended the decision to suspend permanently available operations for the support and withdrawal of liquidity for an indefinite period. The 2021 schedule of NBB monetary policy meetings is cancelled. End </p> <p> </p>
2021-04-01
Primepress
EDB admits Belarus may raise refinancing rate
MINSK, Mar 31 - PrimePress. The Eurasian Development Bank (EDB) allows the possibility for Belarus to raise the refinancing rate, said Anatoli Kharitonchik, Senior Analyst of the Centre for Country Analysis of the EDB Directorate for Analytical Work.
The official made a statement to this effect while presenting analytical report “EDB Macroeconomic Outlook: Strong Recovery Growth in 2021” on Mar 31.
“With high inflation, we expect to maintain tight monetary conditions this year, primarily through the National Bank’s control of money supply. We allow for the probability of an increase in the refinancing rate, including against the background of the expected increase in the key rate in Russia. Gradual normalization of monetary conditions is possible in the second half of 2021 if the situation on the FX market remains stable,” Kharitonchik said.
As previously reported, the National Bank on Mar 12, 2021 preserved the refinancing rate at 7.75% per annum, the overnight loan rate at 8.75% per annum and the overnight deposit rate at 6.75% per annum. The aforementioned rates have stayed unchanged since 1 July 2020. Also, the NBB extended the decision to suspend permanently available operations for the support and withdrawal of liquidity for an indefinite period. The 2021 schedule of NBB monetary policy meetings is cancelled. End