BELARUS NEWS AND ANALYSIS

DATE:

10/10/2008

Belarus to raise refinancing rate to 10.75 pct - agency

MINSK, Oct 10 (Reuters) - Belarus central bank will raise its refinancing rate to 10.75 percent as of Oct. 15 from 10.5 percent, official state news agency BELTA reported on Friday.

The central bank declined to comment, saying it would release a statement later. But on Thursday, the banks' First Deputy Chairman, Pavel Kallaur, told journalists slight increases in the rate were needed to combat inflation.

Belarus raised its inflation forecast to 14 percent by year-end from a previous target of 6-8 percent. Costly energy supplies from Russia have boosted prices.

Inflation in the first eight months of the year was 8.3 percent compared to the same period a year ago.

Source:

http://www.iii.co.uk/news/?type=afxnews&articleid=6942257&subject=economic&action=article

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