'Raising the interest rate, and therefore the corresponding deposit rate, will stimulate savings in banks,' the central bank said in a statement.
'This, in turn, will have a positive effect on enlarging their resource base and the possibility of meeting the banking needs of people and firms.'
The Belarusian central bank has raised its key refinancing rate to 11 percent as of Nov. 12 from 10.75 percent, the bank said on Monday.
