OREANDA-NEWS. January 30, 2013. The Bank of Latvia Council resolved to leave the interest rates and reserve requirement set by the Bank of Latvia unchanged.

Albeit a moderate rise in domestic demand and consumption is expected in 2013 as a result of rising incomes, no serious risks to price stability exist in the medium term and the average annual inflation is expected to be low: Bank of Latvia’s basic prediction is at 2.0%. Economic growth is expected to slow down slightly compared to the previous year: the base scenario for 2013 predicts 3.6%, primarily because of external risks and the related delayed investments. The Bank of Latvia Council therefore maintains that the current monetary policy conditions are suited to the economic situation.

The Report of the Governor of the Bank of Latvia, Ilmars Rimsevics, at today’s press conference will be available in the news section of the Bank of Latvia’s home page www.bank.lv .

The Bank of Latvia Council made amendments to the "Regulation for Purchasing and Selling Cash Foreign Currency" that will take effect on 01.02.2013.

The Regulation specifies that no licence is granted to a foreign currency purchasing and selling point that already has a valid licence. It likewise specifies the purpose for which the information on purchased and sold foreign currency submitted by capital companies should be used.