The National Bank of the Republic of Belarus raised its refinancing rate by 75bps from a record low to 8.5 percent during its April 2021 meeting, the first rate hike since 2015 in order to limit inflation. The annual inflation rate edged down to 8.5 percent in March from an over 4-year high of 8.7 percent in February, remaining well above the central bank’s target of 5 percent. Policymakers expect inflation to continue to slow down and from the second quarter of 2022 it is estimated at the level of the medium-term target. The overnight credit rate and the overnight deposit rate were also increased by 75bps to 9.5 percent and 7.5 percent, respectively. The central bank canceled the schedule of monetary policy meetings for 2021 during its March meeting, and are now only convened when considered necessary. source: National Bank of the Republic of Belarus
Interest Rate in Belarus averaged 45.73 percent from 1991 until 2021, 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 May of 2021.
Interest Rate in Belarus is expected to be 7.75 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 8.00 in 12 months time. In the long-term, the Belarus Interest Rate is projected to trend around 8.50 percent in 2022, according to our econometric models.