Illustrative photo: e1.ru
From Wednesday, June 28, Belarusian banks began to reduce interest rates on loans that are tied to the value of the refinancing rate. This is due to the entry into force of the decision of the National Bank of Belarus to reduce this interest rate by 0.25 percentage points.
Thus, Belagroprombank announced a corresponding reduction in interest rates on retail loans. Among other things, the bank reduced rates on so-called car loans issued for the purchase of Geely cars. Now the rates range from 7.25% to 12.5% per annum (depending on the brand of car and the validity period of the rate).
Priorbank also announced a reduction in rates, in particular, on the electronic loan “Prosche.net”, which can be issued via the Internet, it has been reduced to 14.6% per annum (both for existing and new customers of the bank when issued for 2 -5 years).
In turn, BelVEB Bank announced a reduction in interest rates on loans for the purchase of Belarusian goods. Now it is 10.5% (refinancing rate + 0.75%).
Recall that from June 28, the National Bank of Belarus reduced the refinancing rate from 9.75 to 9.5% per annum, (the overnight loan rate was also reduced – from 10.75 to 10.5% per annum, the overnight deposit rate – from 8.75 up to 8.5% per annum). The National Bank also announced the continuation of the trend towards a slowdown in inflation and gave a forecast for the annual increase in consumer prices. According to Belarusian specialists, it will not exceed 5% by the end of the year.
Following the National Bank, analysts of the Eurasian Development Bank (EDB) also voiced their forecast. In their opinion, the slowdown in consumer price growth in Belarus was “a consequence of administrative price regulation” and the establishment of import supply chains, as well as a decrease in inflationary expectations. However, by the end of the year, according to the EDB forecast, inflation will still grow – up to 7.8%, and next year it will reach 8.2%.
