The National Bank's refinancing rate will be reduced to 11.5% per annum from July 14

July 8, Minsk / BELTA /. The refinancing rate of the National Bank of Belarus will be reduced to 11.5% per annum from July 14, 2010, the National Bank's Information Department informed a BELTA correspondent. Against the backdrop of strengthening positive trends in the economy and financial sector of Belarus, the National Bank's refinancing rate is again reduced by 0.5 percentage points, the department noted. From July 14, 2010, its level will be 11.5% per annum. The corresponding resolution of July 6, 2010, No. 277 was adopted by the Board of the National Bank. The next reduction in the refinancing rate will strengthen the trend of decreasing rates on bank loans provided to economic entities and the population, which will become an additional incentive for the restoration of high rates of economic growth in the country. At the same time, the terms of ruble deposits offered by banks to the population will continue to provide higher returns compared to deposits in foreign currency and the expected inflation rate. -0-