Belarus central bank reduces main interest rate to 7.75 pct

Source: Xinhua | 2020-06-23

The National Bank of Belarus will reduce its key interest rate to 7.75 percent from 8 percent starting from July 1, the bank said on Monday.

The overnight loan rate will be reduced from 9 to 8.75 percent, and the overnight deposit rate from 7 to 6.75 percent.

On June 19, Belarusian President Alexander Lukashenko demanded the National Bank reduce the refinancing rate by the end of June.

This is the third reduction of the key rate this year.

The Belarusian authorities predict the average value of the key rate at the level of 8.75-9 percent in 2020 with annual inflation no more than 5 percent.