National Bank's refinance rate cut down to 20,5% per annum
The refinance rate decreases by 1 percentage point since July 16.
The refinancing rate drop will help to increase availability of credit resources and reduce the debt burden on companies in the real sector of the economy, BELTA notes. Meanwhile, deposits in Belarusian rubles will still be more favorable compared with the currency ones.
According to the estimates of the National Bank, by the end of 2014 the refinancing rate may drop to 20% per annum, the average rate on loans - up to 29% per annum.
Besides, this is the third refinance rate reduce since the beginning of the year, two previous ones happened in April and May. The refinance rate was reduced by 1 percentage point both times.
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