{"id":28640,"date":"2012-03-28T13:50:00","date_gmt":"2012-03-28T17:50:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/03\/28\/national-bank-of-belarus-drops-rate-200bps-to-36-00\/"},"modified":"2012-03-28T13:50:00","modified_gmt":"2012-03-28T17:50:00","slug":"national-bank-of-belarus-drops-rate-200bps-to-36-00","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/03\/28\/national-bank-of-belarus-drops-rate-200bps-to-36-00\/","title":{"rendered":"National Bank of Belarus Drops Rate 200bps to 36.00%"},"content":{"rendered":"<div align=\"right\"><script type=\"text\/javascript\">\ntweetmeme_style = 'compact';\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\"><\/script><\/div>\n<p><span><span><span><span>The&nbsp;<a href=\"http:\/\/www.nbrb.by\/engl\/\" target=\"_blank\">National Bank of the Republic of Belarus<\/a>&nbsp;cut its refinancing rate by 200 basis points to 36.00% from 38.00%; continuing to unwind a string of&nbsp;aggressive&nbsp;rate hikes. &nbsp;The Bank said [translated]: &#8220;<\/span><\/span><\/span><\/span><span><span><span>The National Bank carries out a gradual decline in interest rates against a background of strengthening positive trends in the economy and the monetary sphere. So, steadily slowing inflation, steady growth in ruble deposits of the population, improving the state of foreign trade&#8230;&nbsp;Further dynamics of the refinancing rate will be determined primarily by the intensity of inflation processes and the situation in the economy and the monetary sphere.&#8221;<\/span><\/span><\/span><br \/><span><\/span><br \/><a name='more'><\/a><span>The bank also&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2012\/02\/national-bank-of-belarus-cuts-rate.html\">dropped the rate<\/a>&nbsp;by <a href=\"http:\/\/www.centralbanknews.info\/2012\/02\/national-bank-of-belarus-drops-rate.html\">500 basis points<\/a> and 200 basis points last month, and&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/12\/national-bank-of-belarus-increased-rate.html\">last hiked the rate<\/a>&nbsp;by&nbsp;<\/span><span>500 basis point for the third time in a row in December last year<\/span><span>. &nbsp;The bank increased the rate a total of 3450 basis points in 2011. &nbsp;Belarus reported consumer price inflation at hyperinflationary levels of 107.4% in February, down from 109.7% in January this year, up from 92.3% in October, up from 79.6% in September, and 36.2% in the year to June, according to the National Statistic Committee. &nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/\" name=\"more\"><\/a><\/p>\n<div><span><span><br \/> <\/span><\/span>Senior Bank officials have previously noted a desire to reduce the rate to around 20% this year. &nbsp;The USD-Belarussian ruble (BYR) exchange rate has doubled on the black market, rising to as much as 7,000 per dollar (approx. 6,000 in July), and currently trades around 8050 (5350 in&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/09\/belarus-central-bank-hikes-rate-300bps.html\">September<\/a>) against the US dollar, according to quotes from Yahoo Finance.<\/div>\n<div><span><span><span><br \/> <a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/span><\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-830101594711749271?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;National Bank of the Republic of Belarus&nbsp;cut its refinancing rate by 200 basis points to 36.00% from 38.00%; continuing to unwind a string of&nbsp;aggressive&nbsp;rate hikes. &nbsp;The Bank said [translated]: &#8220;The National Bank carries out a gradual decline in interest rates against a background of strengthening positive trends in the economy and the monetary sphere. So, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/03\/28\/national-bank-of-belarus-drops-rate-200bps-to-36-00\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;National Bank of Belarus Drops Rate 200bps to 36.00%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-28640","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=28640"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28640\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=28640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=28640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=28640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}