The National Bank of the Republic of Belarus held its refinancing rate at 10 percent on September 19th, saying external conditions were creating inflationary risks. Policymakers voiced concerns over the prospect of a global trade war and the imposition of fresh sanctions against Russia, which in turn led to a sharp devaluation of the Russian ruble. The Belarusian annual inflation rate hit the central bank's mid-point target of 5 percent in August, and is expected to average 5.5 percent until the end of the year. Interest Rate in Belarus averaged 48.90 percent from 1991 until 2018, reaching an all time high of 480 percent in November of 1994 and a record low of 10 percent in December of 2006.
Interest Rate in Belarus is expected to be 10.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Belarus to stand at 9.00 in 12 months time. In the long-term, the Belarus Interest Rate is projected to trend around 8.50 percent in 2020, according to our econometric models.