The situation in the financial market, increasing the responsibility of the National Bank for its stability and events for the 25th anniversary of the Belarusian ruble were discussed today at the meeting of the Head of State with Chairman of the Board of the main financial regulator Pavel Kallaur.
Over the past year, stability has been achieved. The President sees considerable merit of the National Bank in this. The current monetary policy is in line with the goal set for inflation — by the end of the year, the figure is expected to be limited to 5%. Creating a favorable environment for sustainable development of the economy is the main task of the National Bank. Responsibility for financial stability rests with the chairman of the board. However, according to the management of the regulator, traditional instruments of monetary policy and banking supervision may not be enough. Therefore, it is proposed to strengthen the powers of the National Bank and secure its responsibility in this area. The Head of State supported this initiative.
The National Bank has recently published information about the situation in the financial market. There is a positive trend. So far, it has been decided to keep the refinancing rate in the country at the level of a historical minimum of 10%. The management of the regulator has a clear vision of what measures to take for economic growth this year, a strategy for leveling external risks and supporting low inflation.
The meeting also discussed possible formats for holding events for the 25th anniversary of the Belarusian ruble. The National Bank together with the Council of Ministers intends to develop a strategy to increase confidence in the national currency. The renewed banknotes will appear in the nominal value of 5 and 10 rubles, as well as coins: 1, 2 kopecks and 2 rubles. It is planned to publish a catalog of banknotes and coins of Belarus. An excursion to the central repository of the National Bank will be organized for journalists.
