The National Bank of the Republic of Belarus will reduce the country's refinance rate by 1 percentage to 21.5% on 19 May, BelTA learnt from the NBRB Information and PR Department. “The move will increase the availability of loans and maintain a high level of profitability of national-currency deposits which outpacing the earning power of forex deposits,” the central bank said. The National Bank is expected to continue the gradual reduction of interest rates in the economy in Minsk. Upon that, the monetary policy approaches will remain tough to support the macroeconomic balance in the country, the bank said. Last time the main interest rate was cut down to 22.5% in April 2014.
Written by belta.by
