The National Bank of the Republic of Belarus lowered its refinancing rate by 75bps to 8 percent during its May meeting, bringing borrowing costs to a fresh record low. The move follows other rate reductions from major central banks around the world, in an attempt to cushion the economic blow of the coronavirus. The annual inflation rate rose to an eight-month high of 5.4 percent in April, above the central bank’s target of 5 percent. The overnight credit rate and the overnight deposit rate were also cut by 75bps to 9 percent and 7 percent, respectively.
Interest Rate in Belarus averaged 46.80 percent from 1991 until 2020, reaching an all time high of 480 percent in November of 1994 and a record low of 8 percent in May of 2020. This page provides the latest reported value for - Belarus Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Belarus Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: National Bank of the Republic of Belarus
Interest Rate in Belarus is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Belarus to stand at 7.50 in 12 months time. In the long-term, the Belarus Interest Rate is projected to trend around 7.00 percent in 2021 and 6.50 percent in 2022, according to our econometric models.