Interest Rate in Belarus
Belarus - Interest Rate
Central Bank keeps rates unchanged in December
At its 19 December meeting, the Board of the National Bank of the Republic of Belarus (NBRB) opted to keep the refinancing rate unchanged at an over one-decade low of 10.0%, in line with analysts’ expectations. The Bank had previously lowered rates at its June meeting, amid record-low inflation.
In its communiqué, the NBRB signaled that a gradual slowdown in domestic demand, coupled with reduced consumer lending, should keep inflation below its 6.0% target rate this year. That said, upside inflationary risks remain over a wage increase implemented in October. Meanwhile, the external-sector backdrop also poses upside risks. These include an expected jump in inflationary pressures in Russia and high external debt, which leaves the currency prone to further devaluation.
Looking ahead, the Bank expects inflation to remain below target and close to 5.0% in 2019-2020. External-sector concerns remain, however, as an expected slowdown of the Russian economy and risks of further market volatility could prompt a further depreciation of the ruble and force policymakers to respond. As it stands, however, most FocusEconomics analysts expect the NBRB to eventually lower rates in 2019.
The next monetary policy meeting is scheduled for 6 February.
FocusEconomics panelists project the key interest rate to end 2019 at 9.5% and 2020 at 9.0%.
Belarus - Interest Rate Data
|Policy Interest Rate (%)||23.50||20.00||25.00||18.00||11.00|
5 years of economic forecasts for more than 30 economic indicators.
Belarus Interest Rate Chart
Source: National Bank of the Republic of Belarus.
|Exchange Rate||2.15||-0.36 %||Jan 14|
|Stock Market||0.1||0.0 %||Jan 10|
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December 31, 2018
According to a second release by the National Statistical Committee (Belstat), the economy cooled in the third quarter on the heels of robust gains in the second quarter.
December 19, 2018
At its 19 December meeting, the Board of the National Bank of the Republic of Belarus (NBRB) opted to keep the refinancing rate unchanged at an over one-decade low of 10.0%, in line with analysts’ expectations.
December 17, 2018
Industrial production expanded 3.1% year-on-year in November, up from 2.8% in October.
December 10, 2018
Consumer prices rose 0.6% over the previous month in November, inching up from October’s 0.5% increase.
November 16, 2018
Industrial production growth decelerated markedly in October, falling to 2.8% year-on-year from 4.4% in September—the lowest reading since February 2017.