OREANDA-NEWS. May 2, 2012. The money-crediting policy pursued by the National Bank of Belarus (NBB) will be optimized to ensure price stability in the country, the NBB said in a statement Wednesday.

Adjusted for inflation trends, the situation on the money market and the real economy sector, the money-crediting policy of the National Bank of Belarus will target price stability, the press-release says.

The NBB refers to a few positive trends, which developed in Belarus’ economy in January-March 2012. In particular, Belarus saw the consumer price index grow 0.8% over the first two weeks of March 2012 and 4.3% since early this year, after a 1.5% growth in February 2012, 2.3% in December 2011, and 1.9% in January 2012.

The total value of individual deposits (all currencies) at Belarusian banks has grown to Br4.9 trillion (USD 600 million at the NBB rate).

Observing stability in the money-crediting sector, the NBB opted to reduce interest rates on the money market. The bank emphasized that present-day interest rates not only protect ruble deposits against inflation, but also yield high profits in comparison with foreign currency deposits.