Belarus central bank cuts key rate to 24%

By bne IntelliNews April 1, 2016

The National Bank of Belarus (NBB) reduced its refinancing rate by 1 percentage point to 24% per annum on April 1.

According to the regulator, the move is a part of efforts aimed specifically at a "reduction of the amount of risk premium in the value of credits, as well as ensuing from analysis of current risks". The NBB said it will continue its policy designed to reduce the amount of risk premium in the ruble credits value within the first half of the year.

At the same time, further concrete measures in this area will be implemented based on the analysis of the current macroeconomic risks and impact of decision already taken on the economy, the NBB underlined.

The country remains wracked by the economic slowdown in neighbouring Russia, its key trading partner. The GDP of Belarus dropped 4% y/y in January-February, while industrial output declined by 5.6%.

Related Articles

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more

Iran could join Moscow-led EEU by May says Russian minister

Russia’s Energy Minister Aleksander Novak has said Iran could join the Eurasian Economic Union (EEU) by May, RT reported on March 10. Tehran has repeatedly lobbied Moscow over the past year to ... more

Agreements with Armenia highlight of uneventful EU Eastern Partnership summit

The EU and Armenia signed a comprehensive and advanced partnership agreement and a common aviation area agreement at the Eastern Partnership summit on November 24, according to an ... more

Dismiss