Belarusian National Bank to lower refinancing rate to 10 percent on May 2

April 26, BPN. The central bank in Minsk says it has decided to lower its refinancing rate to 10 percent per annum on May 2.

The interest rate on overnight loans would drop from 11.5 percent to 11 percent, and on overnight deposits from 9.5 percent to 9 percent.

In November, Alaksandr Łukašenka approved the key socio-economic development parameters, according to which the refinancing rate would be 10-11 percent in 2023.

The rate was lowered from 12 percent to 11.5 percent on January 23, to 11 percent on March 1, and to 10.5 percent on April 3.