The National Bank of Belarus cut down the refinancing rate from 10% to 9.75% per annum on 31 May 2023, BelTA learned from the National Bank.
The interest rate on overnight loans decreased to 10.75%, with the interest rate on overnight deposits down to 8.75% per annum. The corresponding decision was adopted by the Board of the National Bank.
It has been reported that the low monthly growth rate of consumer prices determines the preservation of the trend for a slowdown in annual inflation. In the near future, it is expected that the low monthly growth rate of consumer prices will remain, and the annual inflation rate will be below 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.