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Belarus’ central bank to reduce refinancing rate to 8% on 20 May

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MINSK, 13 May (BelTA) – The refinancing rate will go down from 8.75% to 8% on 20 May. The overnight lending rate will be cut from 9.75% to 9% per annum and the overnight deposit rate - from 7.75% to 7% per annum. These decisions were made by the Board of the National Bank following the meeting on the monetary policy on 13 May, BelTA has learned from the bank’s information and public relations department.

The refinancing rate was last reduced in Belarus on 19 February. Then the rate was cut from 9% to 8.75% per annum.

The next meeting is scheduled for 12 August 2020.

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