The National Bank of Belarus cut down the refinancing rate from 9.75% to 9.5% per annum on 28 June 2023, BelTA learned from the National Bank.
The interest rate on overnight loans went down from 10.75% to 10.5%, with the interest rate on overnight deposits down from 8.75% to 8.5% per annum. The corresponding decision was made by the Board of the National Bank.
It has been reported that the inflationary processes continue to slow down. In May, consumer prices fell by 0.3% month-on-month. It is expected that the annual increase in consumer prices will not exceed 5%.
The National Bank will make the next decisions on the refinancing rate taking into account the actual and expected inflation trends, as well as risks from internal and external conditions and the response of financial markets to them.