Page 28 - BELRptDec18

8.2 Central Bank policy rate
The National Bank of Belarus (NBB) intends to cut its benchmark interest rate to 14-16% by the end of 2017 , its deputy chairman Sergei Kalechit said on October 4.
It is possible to secure a single-digit refinancing rate next year , BelTA learned from Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Pavel Kallaur. The head of Belarus' central bank said: “We expect we will be able to reach a single-digit refinancing rate in 2019. It will surely depend on the performance of the economy, the state of the balance of payments, external conditions. We are going to make decisions during regular sessions of the board. We will notify the public about the schedule of these sessions at the end of this year and will strictly follow this schedule.” Pavel Kallaur said he believes that interest rates on loans will continue falling the way they are now. “That is they will be getting closer to single-digital figures. We are primarily talking about the refinancing rate. Further reduction of interest rates on ruble loans will follow the refinancing rate,” noted the official.
8.4 International ratings
BELARUS - Rating agency
as of Jan 2018
Bond rating: Moody’s
Caa1(S)
Bond rating: Fitch
B (S)
Bond rating: S&P
B (S)
28 BELARUS Country Report December 2018 www.intellinews.com