Inflation in Belarus projected at 18% by 2014 end – National Bank Head

The government and the National Bank of Belarus are determined to reduce inflation to 18% by the end of 2014 year, chairwoman of the National Bank of Belarus Nadzeya Yermakova said during a live phone-in Q&A and online press conference at state-run news agency BelTA on Wednesday.

The annual inflation in the country stood at 20% in September 2014.

“It is expected that the measures taken by the Government and the National Bank will help inflation continue its downward trend to 18%,” the head of the National Bank said.

According to Nadzeya Yermakova, there are plans to hold inflation within the 12% target in 2015. She also said it was ‘too early’ to talk about the denomination of the Belarusian rubel.

“Denomination is advisable only if the inflation level in the country stays steadily below 10%. Taking into account this year’s situation and the inflation rate expected next year, talking about denomination in the near future is premature,” Ms Yermakova stressed., via BelTA

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