On 14 February 2018 the refinancing rate of the National Bank was reduced from 11% and now stands at 10.5%.
In Belarus, the refinancing rate is one of the key instruments of regulation of monetary relations.
For example, the size of the rate is directly proportional to the size of government fees, the amount of penalties for overdue bank loans, the size of the tax authorities of fines, etc. The lower the refinancing rate is, the lower is the payout percentage.
We recommend considering this information in the management accounting. New calculation of the above categories can be used from the day of lowering rate by the National Bank.