The National Bank of the Republic of Belarus has decided to keep the refinancing rate at 7.75%

The National Bank of the Republic of Belarus has decided to keep the refinancing rate at 7.75%, BelTA learned from the information and public relations department of Belarus' National Bank.

“The refinancing rate and interest rates on liquidity operations will remain at the current level. The relevant decisions were made by the Board of the National Bank at a meeting to discuss the monetary policy on 11 November,” the information and public relations department noted.

The Board of the National Bank will hold the next meeting on monetary policy on 12 February 2021.

BelTA reported earlier that the refinancing rate was reduced from 8% to 7.75% in Belarus on 1 July 2020. The overnight lending rate was cut from 9% to 8.75% per annum and the overnight deposit rate – from 7% to 6.75% per annum. On 12 August and 14 October, the National Bank made decisions to keep the rates unchanged.