Belarus central bank handed 12% inflation target

belarus

The president of Belarus has set the country's central bank an inflation target of 12% for 2015 – likely a challenging goal, given inflation has climbed as high as 20% in recent months.

Each year the president approves a set of monetary policy guidelines for the National Bank of the Republic of Belarus (NBRB), including an inflation target and forward guidance on the central bank's key interest rate.

According to the guidelines, the refinance rate will "average out" at a level between 15% and 16

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