National Bank of Belarus aims to restrain inflation at 6%, keep positive interest rates in 2022
<p> </p> <p> MINSK, Nov 24 - PrimePress. The National Bank of Belarus (NBB) aims to restrain inflation at 6% per annum in 2022 and maintain interest rates in the economy at a positive level. </p> <p> </p> <p> Head research and strategic development at NBB Natalia Mironchik made a statement to this effect during a roundtable on 24 November. </p> <p> </p> <p> “The National Bank’s policy will aim to stabilise inflation with minimal cost to the economy. 6% is the inflation target for 2022. The main thing is to keep interest rates in the economy in real terms at a positive level. (If it is necessary to increase the refinancing rate, we will do it. The most important thing is to keep the interest rates in the economy and the savers’ incomes positive in real terms so that the lending isn’t free. If inflation goes up, we will have to raise the rates,” Mironchik said. </p> <p> </p> <p> As previously reported, Belarus inflation stood at 0.9% in October 2021 and 8.5% in January-October. </p> <p> </p> <p> The IMF forecast says Belarus will see 8.5% inflation in 2022, the World Bank - 7.1%, the Eurasian Development Bank - 6.5% (the bank will provide an updated macro-forecast, including an inflation forecast, on November 25). Fitch forecasts that Belarus’ annual average inflation still stand at 8.5% between 2021 and 2023. End </p> <p> </p>
2021-11-25
Primepress
National Bank of Belarus aims to restrain inflation at 6%, keep positive interest rates in 2022
MINSK, Nov 24 - PrimePress. The National Bank of Belarus (NBB) aims to restrain inflation at 6% per annum in 2022 and maintain interest rates in the economy at a positive level.
Head research and strategic development at NBB Natalia Mironchik made a statement to this effect during a roundtable on 24 November.
“The National Bank’s policy will aim to stabilise inflation with minimal cost to the economy. 6% is the inflation target for 2022. The main thing is to keep interest rates in the economy in real terms at a positive level. (If it is necessary to increase the refinancing rate, we will do it. The most important thing is to keep the interest rates in the economy and the savers’ incomes positive in real terms so that the lending isn’t free. If inflation goes up, we will have to raise the rates,” Mironchik said.
As previously reported, Belarus inflation stood at 0.9% in October 2021 and 8.5% in January-October.
The IMF forecast says Belarus will see 8.5% inflation in 2022, the World Bank - 7.1%, the Eurasian Development Bank - 6.5% (the bank will provide an updated macro-forecast, including an inflation forecast, on November 25). Fitch forecasts that Belarus’ annual average inflation still stand at 8.5% between 2021 and 2023. End