Belarus to Cut Rates

Sep. 13, 2012

Belarus' central bank expects to halve interest rates by the end of 2013 from the current 30 percent if the economy continues recovering from last year's crisis, the president's office on Wednesday quoted central bank head Nadezhda Yermakova as saying.

"If the situation is favorable and the current positive economic trends remain in place, and also if inflation slows down steadily, the refinancing rate may fall to 13 percent to 15 percent by the end of 2013," Yermakova said.

The bank cut its refinancing rate this week by 50 basis points to 30 percent, and aims to gradually bring it down to 20 percent to 23 percent by the end of the year, assuming annual inflation falls below 20 percent by the end of the year.

(Reuters)

Related articles:

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue