Belarusbank Acutely Raises Deposit Rates for December
The largest Belarusian bank announced a sudden growth of deposit rates in national currency for individuals by 7-9 percentage points.
According to the bank’s official report, the special offer is valid thru December 2012. Thus, in December the interest rates on households' deposits in Belarusbank will be about 37-38%.
Meanwhile the interbank market rates were tending to stabilize during the last week after the marked weakening observed from the middle of month. In accordance with the National Bank of Belarus, on November 30 interbank annual credit rates decreased from 43-44% to 27-27.5% by the middle of November. The interest rates are relatively stable since Monday, November 26. Both the National Bank representatives and experts in banking interests expect the relative stability in the interbank market to be maintained in December.
Earlier the National Bank governing body assured of its intention to keep the current refinancing rate at the level of 30% per year all the way through December. The current interesting rate came into force on September 12, 2012.
About 60% of total physical persons deposits in the baking system are placed in Belarusbank.