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22 May 2023, 14:23

Belarus' central bank to cut down refinancing rate to 9.75% on 31 May

MINSK, 22 May (BelTA) - Belarus' National Bank will cut down the refinancing rate from 10% to 9.75% per annum on 31 May, BelTA has learned.

The interest rate on overnight loans will be reduced to 10.75% per annum, and the interest rate on overnight deposits will go down to 8.75%. This decision was made by the Board of the National Bank today at a meeting on monetary policy.

It is reported that the low monthly growth rate of consumer prices contributes towards the slowdown in annual inflation. The monthly growth rate of consumer prices is expected to be low, with the annual inflation rate hovering below 5%.

While making decisions on the refinancing rate in the future, the National Bank will take into account the actual and expected inflation rates, internal and external risks and the reaction of financial markets to them.

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