The National Bank of Belarus cut its benchmark refinancing rate by 50bps to 11.5% on January 18th, 2023, after holding the rate steady since the start of its joint invasion of Ukraine with Russia in late February. It was the first interest rate cut since June 2020, with the bank’s board stating that inflation has shown a steady slowdown in recent months. The Board noted that inflation expectations have also improved, largely due to the inflow of rubles into the Belarussian banking system. The latest data showed that inflation in the country was at 12.8% in December, well below the seven-year high of 18.1% touched in July. On the growth front, Belarussian Prime Minister Golovchenko stated the economy is expected to have contracted 4% in 2022 amid sweeping sanctions from the West. source: National Bank of the Republic of Belarus
Interest Rate in Belarus averaged 43.74 percent from 1991 until 2023, reaching an all time high of 480.00 percent in November of 1994 and a record low of 7.75 percent in June 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 January of 2023.
Interest Rate in Belarus is expected to be 11.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Belarus Interest Rate is projected to trend around 7.00 percent in 2024, according to our econometric models.