Belarus' central bank reduced the refinancing rate by one percentage point from 13% to 12% per annum on 19 July.
It is the six time the National Bank has reduced the refinancing rate this year.
13.08.2014 - 20%
9.01.2015 - 25%
1.04.2016 - 24%
1.05.2016 - 22%
1.07.2016 - 20%
17.08.2016 - 18%
18.01.2017 - 17%
15.02.2017 - 16%
15.03.2017 - 15%
19.04.2017 - 14%
14.06.2017 - 13%
19.07.2017 – 12%
The refinance rate is the rate of the National Bank of the Republic of Belarus which is a basic instrument of regulating interest rates in the money market and is the basis for setting interest rates on the operations involving liquidity provision to banks.
Source: The National Bank of the Republic of Belarus