Belarus central bank reduces key rate to 8 pct

Source: Xinhua | 2020-05-14

The National Bank of Belarus said Wednesday it will reduce the key rate to 8 percent starting from May 20.

The key rate will be reduced from 8.75 to 8 percent.

The overnight loan rate will be reduced from 9.75 to 9 percent, the overnight deposit rate from 7.75 to 7 percent.

The key rate was reduced on Feb. 19 from 9 to 8.75 percent.

Belarusian authorities predict the average value of the key rate at the level of 8.75-9 percent in 2020 with annual inflation not more than 5 percent.