August 13, Minsk /BELTA correspondent/. The refinancing rate of the National Bank of Belarus will be reduced by 0.5 percentage points from August 13 and will be set at 20% per annum, reports BELTA.
August 13, Minsk /BELTA correspondent/. The refinancing rate of the National Bank of Belarus will be reduced by 0.5 percentage points from August 13 and will be set at 20% per annum, reports BELTA.
The decision to lower the refinancing rate, adopted by the Board of the National Bank, is based on the continuation of favourable trends in the country's monetary and credit sphere in July. On the domestic foreign exchange market, the supply of foreign currency exceeds the demand for it, and there is an inflow of ruble deposits from individuals into banks.
Despite the expected decrease in interest rates in the credit and deposit market as a result of the refinancing rate reduction, the yield on ruble deposits will continue to not only exceed the yield on deposits in foreign currency but also provide reliable protection of savings against inflation.
The refinancing rate in Belarus was last lowered on July 16 by 1 percentage point to 20.5% per annum.
This is the fourth reduction in the refinancing rate since the beginning of the year.-0-
News of Belarus (BELTA)