Belarus will reduce its refinancing rate by two percentage points to 18 percent as from Aug. 17, more than one month after it cut the rate from 22 to 20 percent, the central bank said Thursday.
The interest rate on standing operations designed to maintain the current liquidity of Belarusian banks will be reduced from 25 to 23 percent, a statement from the central bank said.
The central bank said it made the decision after reviewing the dynamics of inflation, the treasury balance and the currency and financial markets of the country. The central bank considers the lower interest rates will improve the ability of nonfinancial organizations to honor their credit commitments to banks, thus reducing financial risks.
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