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Inflation level to be controlled via monetary and market measures

Alexander Lukashenko stresses that particular foreign exchange market rate must be followed
The President of Belarus listened to a report from the Chair of the National Bank, Nadezhda Yermakova, then noted, “Recently, we’ve managed, to some extent, to overcome small but negative trends in the foreign exchange market — primarily connected with rumours and politics. We should firmly stick to our defined course, as announced, as people should understand and believe us. If the National Bank proclaims a policy, we should follow it.”

The President was also interested in Ms. Yermakova’s forecast for the Belarusian economy as a whole, particularly with regard to exports. The Head of the National Bank announced that 2012 targets had been met, saying “Inflation is within planned limits. From January to October 16th, the price index stood at 117.1 percent. The average monthly increase was 1.7 percent while core inflation was just 14.1 percent. Administratively regulated prices and those for seasonal vegetables stood at 21.6 percent. So, inflation is being controlled via monetary and market methods — as per the designated policy.”
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