Proclamation Day of the Republic of Latvia Proclamation Day of the Republic of Latvia Proclamation Day of the Republic of Latvia is celebrated annually on 18 November. It marks the anniversary of the Proclamation of Independence of Latvia by the People's Council of Latvia in 1918. Various public events take place all over the country, including concerts and fireworks. Torchlight processions held by various organizations have been part of Proclamation Day celebrations and Lāčplēsis Day celebrations since the 1920s. The largest torchlight procession organized by the National Alliance takes place in the capital city Riga and attracts several thousand participants every year. Its route through the streets
Bank of Latvia a refinancing rate instrument, a rate for travel. In a situation where banks do not intend to actively use the instruments offered by the Bank of Latvia, the increase of the refinancing rate has a more signaling function. The Bank of Latvia is managed by the Bank's Board and Management Board. The council consists of 8 people: the president of the bank, his deputy and 6 members of the council. The Bank's Supervisory Council is managed by the President of the Bank of Latvia. The Governing Council of the Bank of Latvia takes decisions on behalf of the Bank of