Belarus central bank hikes key rate by 500bp


The National Bank of the Republic of Belarus (NBRB) has hiked its main refinance rate by 500 basis points to 25% in a bid to counter inflation and stabilise the country's exchange rate.

The increase, effective from today, is one of several measures announced by the central bank as it attempts to regain control over an economic situation that has deteriorated rapidly in recent months.

Announced yesterday, it comes less than a month after the NBRB held the refinance rate at 20% amid a "continuing

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