Belarus cuts refinancing rate for fifth time since 2012
2012-06-21 16:51:28
In December, the Belarusian authorities have approved a program of monetary policy for 2012, according to which the refinancing rate should drop to 20-23% by the end of the year.
The National Bank of Belarus has lowered the refinancing rate by two percentage points to 32% per annum on June 20. The rate was cut for the fifth time since the beginning of the year. The last time the top-tier bank lowered it was mid-May. The dynamics of most macroeconomic indicators allow for reducing interest rates without increasing risks for the country’s balanced development, analysts say. Consumer prices in Belarus increased by 8.5% from January to May. Last year, the refinancing rate increased 12-fold in response to the outbreak of a currency crisis in the republic.