The National Bank today made a decision on the refinancing rate. It will still be left at the current level 7.75%. At the same time, the regulator decided to abandon the planned schedule of the rate of the rate and will return to this issue "as needed", Onliner.by.
"The refinancing rate and interest rates on the liquidity regulation operations of the National Bank are preserved at the same level. Mounted for 2021 schedule of the Board of the National Bank on monetary policy issues is canceled. Issues of changing the refinancing rates and rates on bank liquidity regulatory tools will be considered as necessary, "the press service reported.
To limit inflation, the National Bank adopted a number of decisions "aimed at strengthening control over the increase in the ruble monetary base and broad money supply."
The suspension of constantly available support for support and seizure of liquidity will be valid until the Board of the National Bank does not decide on their resumption.
Supporting the liquidity of banks will be through credit auctions for up to 7 days in the form of a competition of interest rates or at the announced interest rate, as well as monthly auctions for the provision of loans for a period of 6 months at the announced interest rate. The amount of liquidity to banks will be determined on the basis of the need to achieve operating and intermediate goals.
The refinancing rate is preserved at 7.75% per annum from July 1, 2020. Last year, she declined three times.
The Board of the National Bank has already been going on this issue on February 17, then decided to postpone this decision until March 12, explaining that it was necessary for additional time to analyze.
"Due to the need for an additional analysis of the forecast dynamics of consumer prices and estimates the duration of the impact of key factors that led to the acceleration of consumer growth rates, it was decided to consider the relevant issues on monetary policy at a meeting of the Board on March 12," the regulator explained.