11.05.2021, 15:53
Inflation is already unfolding faster than the authorities expected.
The Eurasian Development Bank notes the risk of increased inflationary pressure for the Belarusian economy due to US sanctions against Belarusian enterprises. This is stated in the May economic review prepared by the EDB analysts.
According to the website naviny.by, the review notes that the National Bank of Belarus has tightened monetary policy amid high inflation and inflationary expectations. The refinancing rate on April 21 was increased by 0.75% to 8.5%.
“Taking into account the increase by the NBRB of the calculated values of the standard risk, the rates on market loans in Belarusian rubles may rise by 0.5-2 percentage points. This will contribute to ensuring price stability, but will restrain consumer and investment activity, ”economists say.
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