Opinions & Interviews

MINSK, 26 October (BelTA) – The National Bank of the Republic of Belarus (NBRB) may consider reducing the refinancing rate once again before the end of the year, BelTA learned from NBRB Deputy Chairman of the Board Taras Nadolny before the third international financing and banking forum Minsk Business Meetings began.

The official noted that Belarus’ central bank has no intention of reducing the refinancing rate right now because a number of reductions have already been made this year. “I think we will continue working calmly from now on. There is no major problem with the level of interest rates on the market but the National Bank always keeps an eye on the situation. Conditions permitting, we will return to this matter. We might do it before the end of the year,” said Taras Nadolny.

The refinancing rate was reduced to 11% per annum in Belarus on 18 October. It was the eighth reduction since the beginning of the year.