With key rate at 8.5%, Belarus likely to sustain inflation within 6.5-7% - EDB analysts
<p> MINSK, Apr 16 - PrimePress. Maintaining the refinancing rate in Belarus at 8.5% per annum during 2021, with National Bank retaining control over money supply, could contribute to keeping inflation within 6.5-7% by the end of the year. The Eurasian Development Bank (EDB) made a statement to this effect in a commentary posted on the bank’s official Telegram channel. </p> <p> </p> <p> As previously reported, on April 14 the National Bank decided to raise the refinancing rate in Belarus by 0.75 percentage points to 8.5% per annum from April 21, 2021. Belarus’ inflation was 0.7% in March 2021 and 3.8% in January-February. By the end of 2021, the authorities are planning inflation at the level of 5% per annum. The National Bank of Belarus predicts a slowdown in inflation in 2021 from the current level of 8.5% percent to 7%. </p> <p> </p> <p> The EDB forecasts a slowdown in annual inflation in Belarus starting from the third quarter of 2021. This will be facilitated by the expected decline in global food prices and restrained domestic consumer demand, the EDB experts said. </p> <p> </p> <p> “In Belarus, core inflation remains elevated under the influence of inflation and devaluation expectations. In the second quarter of 2021, the EDB expects annual inflation to remain in the range of 8-9%,” the EDB said in their commentary. End </p>
2021-04-17
Primepress
With key rate at 8.5%, Belarus likely to sustain inflation within 6.5-7% - EDB analysts
MINSK, Apr 16 - PrimePress. Maintaining the refinancing rate in Belarus at 8.5% per annum during 2021, with National Bank retaining control over money supply, could contribute to keeping inflation within 6.5-7% by the end of the year. The Eurasian Development Bank (EDB) made a statement to this effect in a commentary posted on the bank’s official Telegram channel.
As previously reported, on April 14 the National Bank decided to raise the refinancing rate in Belarus by 0.75 percentage points to 8.5% per annum from April 21, 2021. Belarus’ inflation was 0.7% in March 2021 and 3.8% in January-February. By the end of 2021, the authorities are planning inflation at the level of 5% per annum. The National Bank of Belarus predicts a slowdown in inflation in 2021 from the current level of 8.5% percent to 7%.
The EDB forecasts a slowdown in annual inflation in Belarus starting from the third quarter of 2021. This will be facilitated by the expected decline in global food prices and restrained domestic consumer demand, the EDB experts said.
“In Belarus, core inflation remains elevated under the influence of inflation and devaluation expectations. In the second quarter of 2021, the EDB expects annual inflation to remain in the range of 8-9%,” the EDB said in their commentary. End