the national Bank of Belarus at the meeting of the Board decided to reduce the refinancing rate from 9% to 8.75%, according to the regulator, reports TASS.
“In the message it is noted that the refinancing rate in Belarus reduced from 19 Feb 2020 from 9% to 8.75% per annum, the rate on the overnight loan is also reduced from 10% to 9.75% per annum, the rate on the overnight Deposit from 8% to 7.75%.
In November 2019, the Central Bank of the country said that the regulator intends to become operationally independent, and its leadership is ready to consolidate responsibility for achieving the inflation target at the legislative level.
As said the head of the Central Bank Pavel Kallaur, the intention means a resignation in the event of failure of that purpose.
According to him, it is necessary to amend the Banking code, which will identify “what if the inflation target will not be executed, it is not a reason, and in fact the duty of us to dismiss”.