EDB expects refinancing rate in Belarus to be down to 7% per annum by 2021
<p> MINSK, Jul 22 - PrimePress. The Eurasian Development Bank (EDB) sees a possibility to lower the refinancing rate in Belarus to 7% per annum by the end of 2020 with the prevalence of disinflationary risks, reads the EDB’s June outlook. </p> <p> </p> <p> The gradual lifting of quarantine restrictions by Belarus’ main trading partner countries has been facilitating the recovery of the economic activity in the republic since June 2020. As disinflationary risks prevail, the refinancing rate may be lowered to 7% by end of the year, reads the review. </p> <p> </p> <p> The National Bank of Belarus (NBB) reduced the refinancing rate on July 1, 2020 by 0.25 percentage points to 7.75% per annum, citing a slowdown of inflation processes in Belarus and the countries that are its main trading partners, which was faster than expected, as well as the lowering of the interest rates by foreign central banks. The NBB expects that moderately soft monetary conditions will ensure price and financial stability. </p> <p> </p> <p> According to the target forecast, the refinancing rate was planned at 8.75-9% per annum in 2020. </p> <p> </p> <p> The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB charter capital totals US $7 billion. The bank’s member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. End </p>
2020-07-23
Primepress
MINSK, Jul 22 - PrimePress. The Eurasian Development Bank (EDB) sees a possibility to lower the refinancing rate in Belarus to 7% per annum by the end of 2020 with the prevalence of disinflationary risks, reads the EDB’s June outlook.
The gradual lifting of quarantine restrictions by Belarus’ main trading partner countries has been facilitating the recovery of the economic activity in the republic since June 2020. As disinflationary risks prevail, the refinancing rate may be lowered to 7% by end of the year, reads the review.
The National Bank of Belarus (NBB) reduced the refinancing rate on July 1, 2020 by 0.25 percentage points to 7.75% per annum, citing a slowdown of inflation processes in Belarus and the countries that are its main trading partners, which was faster than expected, as well as the lowering of the interest rates by foreign central banks. The NBB expects that moderately soft monetary conditions will ensure price and financial stability.
According to the target forecast, the refinancing rate was planned at 8.75-9% per annum in 2020.
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB charter capital totals US $7 billion. The bank’s member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. End