World Economy

Belarus to Restrain Inflation

Belarus to Restrain InflationBelarus to Restrain Inflation

The Belarussian central bank said on Tuesday it had shifted to a monetary policy regime in which the main instrument for achieving its inflation target would be control over money supply, CNBC reported. The bank also said in a statement that it would hold weekly auctions to provide and remove liquidity from the market. The first quarter of 2015 displayed a number of distressing trends in Belarusian economy. The adjustment of the exchange rate has not secured the restoration of competitiveness. Furthermore, the government has to resort to conservative policies for mitigating structural weaknesses. The economy has gone into recession, which was accompanied by lower real wages and levels of employment.