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
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
#BREAKING: US lifts sanctions on Belarusian Belavia airline
The United States has lifted sanctions against the Belarusian airline Belavia. This was stated by US Presidential Representative John Cole at a meeting with Belarusian President Alexander Lukashenko ... more
Belarusian tractors drive diplomacy in Africa
Belarusian Foreign Minister Maksim Ryzhenkov arrived in Zimbabwe on 15 April for a working visit aimed at deepening trade and technological cooperation with the African nation, Belta reported on ... more