Minsk 15:03

National Bank to lower refinance rate to 11 percent

February 23, BPN. The National Bank’s board has announced its decision to lower the refinance rate from 11.5 to 11 percent on March 1. 

It will also lower the overnight loan rate from 12.5 to 12 percent and the overnight deposit rate, from 10.5 to 10 percent. 

Inflation slowed down from 12.8 percent in December 2022 to 12 percent in January, the regulator stressed. 

In late November 2022, Alaksandr Łukašenka approved new monetary and credit policy guidelines for 2023, projecting a refinance rate in the range of 10 to 11 percent.

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