13 Dec 2013 16:10

Belarusian National Bank keeps refinancing rate at 23.5% in Dec

MINSK. Dec 13 (Interfax) - The National Bank of Belarus has decided to keep its key refinancing rate, which is 23.5% pa, on hold for December.

"The refinancing rate in December of 2013 will remain at its previous level of 23.5% annually," the National Bank of Belarus told Interfax. This decision was made at the regulator's December 11 board meeting.

The National Bank said that the decision to keep the current refinancing rate was made, above all, to curb inflation, which has been higher than predicted in the last several months. "In November, consumer prices grew by 1.6% against [growth of] 1.9% and 1.7% in October and September of 2013, respectively," the National Bank said.