Management of National Bank tells about main financial expectations for next year

The head of the National Bank has told reporters today about the main financial expectations for the next year.

At the end of the year, the increase in consumer prices will not exceed 5.5%, within the limits of the forecast. The regulator expects that until 2020, inclusive, inflation will not go beyond this. So, there are reasons to believe that interest rates will remain at the current level in the economy.

The main financial priority is having inflation of no more than 5% by the end of next year. Keeping prices down means lowering of the refinancing rate. The current 10% rate is the historical minimum, but it can be even lower.

Next year, the National Bank is ready to abandon regulation of the marginal level of interest rates in the credit and deposit market, as well as allow Belarusians to open current accounts in foreign banks freely. For deposits, as before, permission is required.

There will be a possibility soon to buy and sell problem loans at the site of the Belarusian Currency and Stock Exchange. The bad debt management agency will receive new functions. It is expected that the draft decree will go to the government in the near future.