Key lending rate in Belarus down to 22% per annum

The refinancing rate of the National Bank of the Republic of Belarus will be reduced by two percentage points to 22% per annum. Representatives of the National Bank said that it became possible due to the stabilization of ruble and lower inflation.In the future the National Bank of the Republic of Belarus will continue implementing a strategy designed to reduce the risk premium in interest rates taking into account the comprehensive analysis of emerging macroeconomic risks and the expected development of the national economy.The source explained that slower growth of the money supply, the availability of a net surplus of foreign currency on the domestic currency market, the normalizing situation on the deposit market have resulted in lower inflation pressure in the country.Meanwhile, interest rates on ruble loans and deposits remain high, including in real terms.