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Refinancing rate down to 9% in Belarus

Economy 20.11.2019 | 09:04
An archive photo
An archive photo

MINSK, 20 November (BelTA) – Belarus' National Bank cut the refinancing rate down from 9.5% to 9% on 20 November. The overnight lending rate shrank from 10.75% to 10% per annum. The overnight deposit rate decreased from 8.25% to 8% per annum, BelTA has learned.

In Q3 the inflationary processes continued to slow down. The dynamics of the actual annual inflation, which was running at 5.3% in September, is in compliance with the National Bank's projections. The inflation is expected to hover around 5% at the end of 2019 and during 2020.

“The latest decisions are designed to maintain the neutrality of the monetary policy,” the National Bank noted.

The reduction in overnight credit and overnight deposit rates will narrow the interest rate collar on instruments designed to regulate banks' liquidity to 2%. In the future these rates will change alongside the refinancing rate by a corresponding amount, the National Bank explained.

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