The National Bank of the Republic of Belarus lowered its refinancing rate by 25bps to 7.75 percent at a surprise meeting on June 22nd of 2020. It follows a 75bps cut in its May meeting and brings borrowing costs to a fresh record low. Policymakers said disinflationary pressures are more pronounced than predicted, after annual inflation rate slowed to 4.9 percent. The overnight credit rate and the overnight deposit rate were also cut by 25bps to 8.75 percent and 6.75 percent, respectively.

Interest Rate in Belarus averaged 46.69 percent from 1991 until 2020, reaching an all time high of 480 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 July of 2020. source: National Bank of the Republic of Belarus

Interest Rate in Belarus is expected to be 7.50 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.

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Belarus Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.75 8.00 480.00 7.75 1991 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2019-11-06 11:00 AM Interest Rate Decision 9% 9.5% 9.5%
2020-02-12 09:00 AM Interest Rate Decision 8.75% 9% 9%
2020-05-13 10:00 AM Interest Rate Decision 8% 8.75% 8.5%
2020-06-22 09:05 AM Interest Rate Decision 7.75% 8%
2020-08-12 10:00 AM Interest Rate Decision 7.75% 7.75%
2020-11-11 10:00 AM Interest Rate Decision 7.5%


News Stream
Belarus Cuts Refinancing Rate to 7.75%
The National Bank of the Republic of Belarus lowered its refinancing rate by 25bps to 7.75 percent at a surprise meeting on June 22nd of 2020. It follows a 75bps cut in its May meeting and brings borrowing costs to a fresh record low. Policymakers said disinflationary pressures are more pronounced than predicted, after annual inflation rate slowed to 4.9 percent. The overnight credit rate and the overnight deposit rate were also cut by 25bps to 8.75 percent and 6.75 percent, respectively.
2020-06-22
Belarus Cuts Refinancing Rate to 8%
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.
2020-05-13
Belarus Slashes Interest Rates by 25bps
The National Bank of the Republic of Belarus lowered its refinancing rate by 25bps to 8.75 percent during its February meeting, in an attempt to support the economy amid low inflationary pressures. Annual inflation held steady at a near 1-1/2-year low of 4.7 percent in January, in line with policymakers' goal to reduce the rate to up to 5 percent by the end of 2020. The overnight credit rate and the overnight deposit rate were also cut by 25bps to 9.75 percent and 7.75 percent, respectively.
2020-02-12
Belarus Cuts Refinancing Rate to 9%
The National Bank of the Republic of Belarus lowered its refinancing rate by 50 bps to 9 percent on November 6th, saying inflationary processes continued to slow down in the third quarter of 2019. In September, the annual inflation rate was 5.3 percent and in line with the CB predictions while the Board expected inflation to be near 5 percent at the end of the year and during 2020. Also, the overnight loan rate and the overnight deposit rate were cut to 10 percent and to 8 percent, respectively.
2019-11-06

Belarus Interest Rate
In Belarus, interest rate decisions are taken by the National Bank of the Republic of Belarus. The official interest rate is the refinancing rate.