Belarus central bank lowers refinancing rate

The key interest rate went from 18% to 17% per annum on 18 January, from 17% to 16% on 15 February, from 16% to 15% on 15 March, from 15% to 14% on 19 April, from 14% to 13% on 14 June, from 13% to 12% on 19 July, and was lowered to 11.5% per annum on 13 September, BELTA reminds.
 

Refinancing rate is a monetary regulation tool, which the National Bank of Belarus uses to regulate loan and deposit rates for physical and legal persons by commercial banks. At this rate the central bank lends money to commercial banks.