of December 1, 2014 No. 551
About approval of the Main directions of monetary policy of the Republic of Belarus for 2015
1. Approve the enclosed Main directions of monetary policy of the Republic of Belarus for 2015.
2. To provide to National Bank together with Council of Ministers of the Republic of Belarus accomplishment of the Main directions of monetary policy of the Republic of Belarus for 2015.
3. This Decree becomes effective since January 1, 2015.
President of the Republic of Belarus
A. Lukashenko
Approved by the Presidential decree of the Republic of Belarus of December 1, 2014 No. 551
1. Main goal of monetary policy is assistance to the sustainable and balanced development of national economy through maintenance of price stability. Decrease of the inflation rate, measured by consumer price index, to 12 percent (December, 2015 by December, 2014) will remain the main objective of monetary policy in 2015. Maintenance of the cash offer at the adequate level will promote decrease in monetary factors in inflation.
2. Instruments of monetary policy in 2015 will be directed to restriction of inflation taking into account the developing external and internal macroeconomic conditions.
The refunding rate will play key role in forming of cost of resources in the money market. She will be supported at the level necessary for achievement of price stability in economy. Taking into account inflation delay annual average value of refunding rate in 2015 will develop at the level of 15-16 annual interest rates.
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