Business news

MINSK, 13 September (BelTA) – A lower refinancing rate is completely justifiable right now, Zhanna Kulakova, Financial Consultant at the TeleTrade company, told BelTA.

"The decision to cut down the refinancing rate is right on point. The inflation has been slowing down at a record pace for our country. Belarus had a two-month deflation, in July and August, which happened for the first time ever in the history of the independent Belarus. The year-on-year inflation is 5.3% now, which is a record low for us as well,” the financial consultant said. Given the situation, the refinancing rate may be further reduced, she added.

The refinancing rate in Belarus was reduced by 11.5% per annum on 13 September. It is the seventh time the refinancing rate has been cut down this year.