The National Bank of Belarus may lower the refinancing rate in June. This was reported by its representative Dmitry Murin, commenting on the economic situation in the country.
Illustrative photo. Photo: "Nasha Niva"
According to Dmitry Murin, Belarus is experiencing a slowdown in inflation. This is influenced by both internal reasons and a decrease in the impact of external factors, including imported inflation.
The National Bank believes that conditions are now emerging for a softer monetary policy. Therefore, a reduction in the refinancing rate by 0.25 or 0.5 percentage points may be considered in June.
The refinancing rate is one of the main financial indicators in the country. It determines interest rates on loans and deposits, as well as the overall cost of money for the economy. When the rate is lowered, loans usually become more accessible, but at the same time, interest rates on deposits may also decrease.
The rate was last changed in June 2025, when it was raised to 9.75% per annum. Now, the National Bank is considering a reverse step.
The final decision will depend on further inflation and the overall situation in the financial market. The National Bank emphasizes that the main goal remains economic stability and predictable conditions for people and businesses.
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