MINSK, May 20 (Xinhua) -- The national bank of Belarus on Wednesday decided to lower its refinancing rate to 9.25 percent from 9.75 percent, effective from June 1.
The national bank's chairman Roman Golovchenko said that the cut, along with a 50-basis-point reduction in the overnight credit rate to 10.75 percent, was based on decelerating inflation, stable macroeconomic trends, and improved economic activity.
According to the bank, inflation fell to 5.4 percent in April, while core inflation eased to 5.9 percent. The national bank also noted stronger Belarusian ruble deposits and moderate credit growth, which helped support economic stability.
