National Bank of Belarus maintains level of refinancing rate at 7,75%

11 ноября 2020
The National Bank of Belarus again maintains the level of the refinancing rate. These positions will remain at least until the beginning of next year.
The decision was made today at the meeting on monetary policy. It is important to note that the refinancing rate in Belarus for the second year in a row breaks records of minimum values   in sovereign history. The key rate came out in a difficult time. (This is both a pandemic and turbulence of the world economy).

The interest on loans depends on the value of the refinancing rate. The lower   is the indicator, the more available are resources for the development of the real sector of the economy. Therefore, when deciding on the dynamics of the rate, the regulator always relies on a number of factors. These are trends in the country and the world, forecasts of the world economy, the increase in consumer prices in Belarus. According to the latest data, inflation in the country has slowed down. There are no prerequisites for the negative influence of external factors . All this together became the basis for maintaining the rate at the same level.

The National Bank notes a calm situation in the domestic financial market. In recent months, the demand for the dollar and the euro has fallen. The regulator buys foreign currency to replenish its reserves. The state of the deposit market does not cause concern. Outflow of deposits from Belarusian banks significantly slowed down.