NBB keeps key rate unchanged at 7.75% per annum
<p> MINSK, Aug 12 - PrimePress. The National Bank of Belarus keeps the refinancing rate at 7.75% per annum, the rates on loans and overnight deposits at 8.75% and 6.75% per annum, respectively, as decided by the Board of the National Bank of Belarus (NBB) following the meeting on monetary policy held on August 12, the National Bank reports. </p> <p> </p> <p> The National Bank will get back to considering the refinancing rate on October 14, 2020. </p> <p> </p> <p> As previously reported, the National Bank Board held an additional meeting on monetary policy on June 22. The NBB decided to lower the refinancing rate by 0.25 percentage points from July 1, 2020 to 7.75% per annum, rates on loans and overnight deposits – by 0.25 pp to 8.75% per annum and 6.75% per annum, respectively. </p> <p> </p> <p> President of Belarus Alexander Lukashenko demanded on June 19 at the meeting on measures to support the real sector of the economy that the National Bank ease monetary policy, ensure constant growth of lending to the economy and reduce the cost of borrowing. </p> <p> </p> <p> Last time, the National Bank lowered the refinancing rate on May 20, 2020 by 0.75 percentage points to 8% per annum. Previously, the refinancing rate was reduced on February 19, 2020 by 0.25 percentage points to 8.75% per annum, on November 20, 2019 by 0.5 pp to 9% per annum, on August 14, 2019 by 0.5 pp to 9.5% per annum, on June 27, 2018 by 0.5 pp to 10% per annum, and on February 14, 2018 by 0.5 pp to 10.5% per annum. In 2017, the National Bank lowered the refinancing rate eight times by 7 percentage points in total to 11% per annum. End </p>
2020-08-12
Primepress
NBB keeps key rate unchanged at 7.75% per annum
MINSK, Aug 12 - PrimePress. The National Bank of Belarus keeps the refinancing rate at 7.75% per annum, the rates on loans and overnight deposits at 8.75% and 6.75% per annum, respectively, as decided by the Board of the National Bank of Belarus (NBB) following the meeting on monetary policy held on August 12, the National Bank reports.
The National Bank will get back to considering the refinancing rate on October 14, 2020.
As previously reported, the National Bank Board held an additional meeting on monetary policy on June 22. The NBB decided to lower the refinancing rate by 0.25 percentage points from July 1, 2020 to 7.75% per annum, rates on loans and overnight deposits – by 0.25 pp to 8.75% per annum and 6.75% per annum, respectively.
President of Belarus Alexander Lukashenko demanded on June 19 at the meeting on measures to support the real sector of the economy that the National Bank ease monetary policy, ensure constant growth of lending to the economy and reduce the cost of borrowing.
Last time, the National Bank lowered the refinancing rate on May 20, 2020 by 0.75 percentage points to 8% per annum. Previously, the refinancing rate was reduced on February 19, 2020 by 0.25 percentage points to 8.75% per annum, on November 20, 2019 by 0.5 pp to 9% per annum, on August 14, 2019 by 0.5 pp to 9.5% per annum, on June 27, 2018 by 0.5 pp to 10% per annum, and on February 14, 2018 by 0.5 pp to 10.5% per annum. In 2017, the National Bank lowered the refinancing rate eight times by 7 percentage points in total to 11% per annum. End