Belarus to Leave Refinancing Rate Unchanged until Fall - Official

The National Bank of Belarus will likely leave its refinancing rate unchanged until the fall, Vasily Matyushevsky, deputy chairman of the National Bank, told journalists in Minsk on Friday.

"Thus, the refinancing rate will not change on April 1, 2007, either," he said.

The situation on the Belarussian currency market has stabilized, he said. The National Bank's gold and forex reserves have grown by 10%-11% since the start of the year.

Matyushevsky said the main growth in the reserves occurred in late February and early March following a slight drop at the start of the year due to increased demand for foreign currency.

The National Bank of Belarus raised the refinancing rate from 10% to 11% in February 1, 2007.