Economic
Belarusian Central Bank Cuts Interest Rate in March 2026
The National Bank of Belarus lowered its key refinancing rate in March 2026 to support growth amid moderating inflation and weak GDP momentum in early 2026.
On March 22, 2026, the National Bank of Belarus announced a reduction in its key refinancing rate by 0.5 percentage points, bringing it to 9.25% per annum. The move reflects the central bank’s effort to balance supporting domestic demand with containing inflation, which remains close to the 7% target band. Recent data show that Belarus’ GDP contracted by 1.2% in January–February 2026 compared with the same period in 2025, signaling a slowdown after modest growth in 2025. The decision aligns with the government’s broader objective of stimulating investment and maintaining real wage growth, while international institutions forecast only 1.4–1.8% GDP growth for Belarus in 2026.
- Status
- active
- Location
- Minsk, Belarus
- Date added
- 2026-03-22 21:26 UTC
- Last updated
- 2026-03-22 21:26 UTC
- Connected threats
- Not provided