Today, the National Bank of Belarus will decide on further changes to the refinancing rate. Yesterday, the Bank’s management noted bringing it further down is not impossible, so by late 2018 it can reach its all-time low of 10%. The most solid argument for lowering the rate is the low level of inflation. It is expected that this year it will not exceed 6%.
Sergei Kalechits, the Deputy Chairman of the Board of the National Bank of Belarus: "As of May, the consumer prices index in Belarus increased by 4.4% in annual terms and by 4.6% compared to last year, and this is the smallest index we have had in the sovereign history of our country. Next year, our target parameter on price stability will be toughened and we will reduce the level of inflation further."
The refinancing rate in Belarus has been declining for the third year in a row now. Today it is 10.5%. The last time the National Bank refinanced loans at such a rate was 8 years ago.
