Belarus Policy Rate
1991 - 2026 | Monthly | % pa | National Bank of the Republic of Belarus
Key information about Belarus Policy Rate
- Belarus cash rate (Policy Rate: Month End: Refinancing Rate) was set at 9.75 % pa in Jan 2026, compared with 9.75 % pa in the previous Dec 2025.
- Belarus Policy Rate averaged 10.75 % pa and is updated monthly, available from Jul 1991 to Jan 2026.
- The data reached an all-time high of 480.00 % pa in Jan 1995 and a record low of 7.75 % pa in Mar 2021.
Related information about Belarus Policy Rate
- In the latest reports, Belarus Short Term Interest Rate: Monthly Average: Interbank Rate: National Currency: Over 60 Days was reported at 7.00 % pa in Dec 2025.
- Belarus Exchange Rate against USD averaged 2.96 (USD/BYN) in Nov 2025.
View Belarus's Policy Rate from Jul 1991 to Jan 2026 in the chart:
What was Belarus's Policy Rate in Jan 2026?
Belarus cash rate (Policy Rate: Month End: Refinancing Rate) was set at 9.75 % pa in Jan 2026, compared with 9.75 % pa in the previous Dec 2025. See the table below for more data.
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 9.75 Jan 2026 | 9.75 Dec 2025 | 7.75 Mar 2021 | 480.00 Jan 1995 | % pa | monthly | Jul 1991 - Jan 2026 |
Policy Rate by Country Comparison
| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (% pa) | 2.50 Jan 2026 | monthly | Jan 2000 - Jan 2026 |
| Algeria (% pa) | 2.75 Jan 2026 | monthly | Jan 1963 - Jan 2026 |
| Argentina (%) | 28.57 Jan 2026 | monthly | Jan 1985 - Jan 2026 |
| Armenia (% pa) | 6.50 Jan 2026 | monthly | May 2001 - Jan 2026 |
| Australia (% pa) | 3.60 Jan 2026 | monthly | Aug 1990 - Jan 2026 |
| Austria (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Azerbaijan (% pa) | 6.50 Feb 2026 | monthly | Jan 2005 - Feb 2026 |
| Bahrain (% pa) | 4.50 Jan 2026 | monthly | Jan 2007 - Jan 2026 |
| Bangladesh (% pa) | 10.00 Oct 2025 | monthly | Sep 2009 - Oct 2025 |
| Belarus (% pa) | 9.75 Jan 2026 | monthly | Jul 1991 - Jan 2026 |
| Belgium (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Bolivia (% pa) | 3.34 Jan 2026 | monthly | Jan 2013 - Jan 2026 |
| Botswana (% pa) | 3.75 Apr 2022 | monthly | Aug 1976 - Apr 2022 |
| Brazil (% pa) | 15.00 Jan 2026 | monthly | Mar 1999 - Jan 2026 |
| Bulgaria (% pa) | 1.81 Dec 2025 | monthly | Feb 1991 - Dec 2025 |
| Canada (% pa) | 2.25 Jan 2026 | monthly | Dec 1992 - Jan 2026 |
| Chile (% pa) | 4.50 Dec 2025 | monthly | May 1995 - Dec 2025 |
| China (% pa) | 1.40 Nov 2025 | monthly | May 2012 - Nov 2025 |
| Colombia (% pa) | 10.25 Feb 2026 | monthly | Apr 1995 - Feb 2026 |
| Croatia (% pa) | 3.00 Dec 2022 | monthly | Dec 1992 - Dec 2022 |
| Cyprus (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Czech Republic (% pa) | 2.50 Jan 2026 | monthly | Jan 1993 - Jan 2026 |
| Denmark (% pa) | 1.60 Jan 2026 | monthly | Aug 1914 - Jan 2026 |
| Ecuador (% pa) | 7.74 Jan 2026 | monthly | Jul 1995 - Jan 2026 |
| Egypt (% pa) | 20.50 Jan 2026 | monthly | Jan 1991 - Jan 2026 |
| Estonia (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| European Union (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Finland (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| France (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Georgia (% pa) | 8.00 Jan 2026 | monthly | Jan 2008 - Jan 2026 |
| Germany (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Ghana (% pa) | 25.00 Nov 2025 | monthly | Nov 2002 - Nov 2025 |
| Greece (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Hong Kong SAR, China (% pa) | 4.00 Jan 2026 | monthly | Jun 1992 - Jan 2026 |
| Hungary (% pa) | 6.50 Jan 2026 | monthly | Oct 1990 - Jan 2026 |
| Iceland (% pa) | 8.00 Jan 2026 | monthly | Jan 1994 - Jan 2026 |
| India (% pa) | 5.25 Jan 2026 | monthly | Apr 2001 - Jan 2026 |
| Indonesia (% pa) | 4.75 Jan 2026 | monthly | Jun 2015 - Jan 2026 |
| Ireland (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Israel (% pa) | 4.00 Jan 2026 | monthly | Dec 1998 - Jan 2026 |
| Italy (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Ivory Coast (% pa) | 2.50 Mar 2017 | monthly | Jan 1964 - Mar 2017 |
| Japan (% pa) | 0.50 Nov 2025 | monthly | Mar 2006 - Nov 2025 |
| Jordan (% pa) | 6.75 Jan 2026 | monthly | Dec 1965 - Jan 2026 |
| Kazakhstan (% pa) | 18.00 Jan 2026 | monthly | Feb 1992 - Jan 2026 |
| Kenya (% pa) | 9.00 Jan 2026 | monthly | Jul 2003 - Jan 2026 |
| South Korea (% pa) | 2.50 Jan 2026 | monthly | May 1999 - Jan 2026 |
| Kosovo (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Kuwait (% pa) | 3.50 Jan 2026 | monthly | Jul 1999 - Jan 2026 |
| Kyrgyzstan (% pa) | 11.00 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Laos (% pa) | 8.50 Nov 2025 | monthly | Dec 1992 - Nov 2025 |
| Latvia (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Lebanon (% pa) | 20.00 Sep 2025 | monthly | Apr 1964 - Sep 2025 |
| Lithuania (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Luxembourg (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Macau SAR, China (% pa) | 4.00 Jan 2026 | monthly | Dec 1999 - Jan 2026 |
| North Macedonia (% pa) | 4.00 Feb 2026 | monthly | Jan 2002 - Feb 2026 |
| Malawi (% pa) | 26.00 Jan 2026 | monthly | Jan 1980 - Jan 2026 |
| Malaysia (% pa) | 2.75 Jan 2026 | monthly | Apr 2004 - Jan 2026 |
| Malta (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Mauritius (% pa) | 4.50 Jan 2026 | monthly | Dec 1999 - Jan 2026 |
| Mexico (% pa) | 7.00 Jan 2026 | monthly | Jan 2008 - Jan 2026 |
| Moldova (% pa) | 5.00 Jan 2026 | monthly | Feb 2001 - Jan 2026 |
| Mongolia (% pa) | 12.00 Jan 2026 | monthly | Jul 2007 - Jan 2026 |
| Montenegro (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Morocco (% pa) | 2.25 Jan 2026 | monthly | Jun 1995 - Jan 2026 |
| Myanmar (% pa) | 9.00 2025 | yearly | 1986 - 2025 |
| Nepal (% pa) | 5.75 Dec 2025 | monthly | Jul 2003 - Dec 2025 |
| Netherlands (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| New Zealand (% pa) | 2.25 Nov 2025 | monthly | Mar 1999 - Nov 2025 |
| Nigeria (% pa) | 27.00 Jan 2026 | monthly | Jan 2000 - Jan 2026 |
| Norway (% pa) | 4.00 Jan 2026 | monthly | Jan 1991 - Jan 2026 |
| Oman (% pa) | 4.25 Feb 2026 | monthly | May 2007 - Feb 2026 |
| Pakistan (% pa) | 11.50 Jan 2026 | monthly | Feb 1992 - Jan 2026 |
| Paraguay (% pa) | 5.75 Jan 2026 | monthly | Jul 2010 - Jan 2026 |
| Peru (% pa) | 4.25 Jan 2026 | monthly | Sep 2003 - Jan 2026 |
| Philippines (% pa) | 5.25 Nov 2025 | monthly | Jun 2016 - Nov 2025 |
| Poland (% pa) | 4.00 Jan 2026 | monthly | Jan 2005 - Jan 2026 |
| Portugal (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Qatar (% pa) | 4.35 Jan 2026 | monthly | Mar 2003 - Jan 2026 |
| Romania (% pa) | 6.50 Jan 2026 | monthly | Jan 2003 - Jan 2026 |
| Russia (% pa) | 16.00 Jan 2026 | monthly | Sep 2013 - Jan 2026 |
| Saudi Arabia (% pa) | 4.25 Jan 2026 | monthly | Jan 2000 - Jan 2026 |
| Serbia (% pa) | 5.75 Jan 2026 | monthly | Jan 2001 - Jan 2026 |
| Singapore (% pa) | 1.05 Nov 2025 | monthly | Jul 2005 - Nov 2025 |
| Slovakia (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Slovenia (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| South Africa (% pa) | 6.75 Jan 2026 | monthly | Nov 1999 - Jan 2026 |
| Spain (% pa) | 2.15 Jan 2026 | monthly | Jan 1999 - Jan 2026 |
| Sri Lanka (% pa) | 7.25 Jan 2026 | monthly | Jan 1997 - Jan 2026 |
| Sweden (% pa) | 1.75 Jan 2026 | monthly | Jan 1987 - Jan 2026 |
| Switzerland (% pa) | -0.05 Jan 2026 | monthly | Jun 1999 - Jan 2026 |
| Syria (% pa) | 5.00 Dec 2025 | monthly | Jan 1962 - Dec 2025 |
| Taiwan, China (% pa) | 2.00 Nov 2025 | monthly | Jul 1961 - Nov 2025 |
| Tajikistan (% pa) | 7.50 Dec 2025 | monthly | Jun 1995 - Dec 2025 |
| Thailand (% pa) | 1.25 Jan 2026 | monthly | May 2000 - Jan 2026 |
| Tunisia (% pa) | 7.00 Jan 2026 | monthly | Jan 2000 - Jan 2026 |
| Turkey (% pa) | 37.00 Jan 2026 | monthly | Jun 1996 - Jan 2026 |
| Ukraine (% pa) | 15.50 Jan 2026 | monthly | Dec 1992 - Jan 2026 |
| United Arab Emirates (% pa) | 3.65 Jan 2026 | monthly | Nov 2007 - Jan 2026 |
Accurate Macro & Micro Economic Data You Can Trust
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Learn more about what we doBelarus Key Series
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | 1.284 2028 | yearly | 1993 - 2028 |
| Trade Balance (USD mn) | -253.2 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Total Exports (USD mn) | 3,514.1 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Total Exports Growth (%) | 12.2 Nov 2025 | monthly | Jan 2001 - Nov 2025 |
| Aluminum: Exports (USD th) | 220,980.540 2024 | yearly | 1995 - 2024 |
| Exports: Medicament (USD th) | 385,310.696 2024 | yearly | 1995 - 2024 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 57,537.110 2024 | yearly | 1995 - 2024 |
| Total Imports (USD mn) | 4,163.3 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Total Imports Growth (%) | 11.9 Nov 2025 | monthly | Jan 2001 - Nov 2025 |
| Imports: Medicament (USD th) | 541,096.572 2024 | yearly | 1995 - 2024 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 484,245.888 2024 | yearly | 1995 - 2024 |
| Total Exports to USA (USD mn) | 2.507 Jun 2022 | monthly | Feb 1992 - Jun 2022 |
| Total Imports from USA (USD mn) | 12.380 Jun 2022 | monthly | Aug 1992 - Jun 2022 |
| Total Exports to China (USD mn) | 238.156 Jun 2022 | monthly | Jan 2011 - Jun 2022 |
| Total Imports from China (USD mn) | 389.485 Jun 2022 | monthly | Jan 2011 - Jun 2022 |
| MERB Forecast: Exports: Goods & Services: YoY (%) | 3.700 2026 | yearly | 2021 - 2026 |
| Imports: Goods & Services: BPM6 (USD mn) | 4,821.678 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Exports: Goods & Services: BPM6 (USD mn) | 4,568.446 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Balance: Goods & Services: BPM6 (USD mn) | -253.232 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Balance: Goods & Services: BPM6: Goods (USD mn) | -649.169 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Exports: Goods & Services: BPM6: Services (USD mn) | 1,054.315 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Imports: Goods & Services: BPM6: Services (USD mn) | 658.378 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Balance: Goods & Services: BPM6: Services (USD mn) | 395.937 Nov 2025 | monthly | Jan 2000 - Nov 2025 |
| Exports: Goods: ytd: Agricultural & Food Products (USD mn) | 2,993.718 Jun 2021 | quarterly | Sep 2003 - Jun 2021 |
| Exports: Goods: ytd: Mineral Products (USD mn) | 1,444.900 Mar 2021 | quarterly | Sep 2003 - Mar 2021 |
| Exports: Goods: ytd: Transport (USD mn) | 711.600 Mar 2021 | quarterly | Sep 2003 - Mar 2021 |
| Exports: Goods: ytd: Chemical Industry (USD mn) | 1,084.400 Mar 2021 | quarterly | Sep 2003 - Mar 2021 |
| Exports: Goods: ytd: Machinery and Equipment (USD mn) | 668.400 Mar 2021 | quarterly | Sep 2003 - Mar 2021 |
| Exports: Goods: CIS: Russia (USD mn) | 16,370.300 2021 | yearly | 2000 - 2021 |
| Imports: Goods: ytd: Mineral Products (USD mn) | 2,484.500 Mar 2021 | quarterly | Sep 2003 - Mar 2021 |
| Imports: Goods: ytd: Agricultural & Food Products (USD mn) | 2,049.682 Jun 2021 | quarterly | Sep 2003 - Jun 2021 |
| Imports: Goods: ytd: Transport (USD mn) | 454.800 Mar 2021 | quarterly | Sep 2003 - Mar 2021 |
| Imports: Goods: ytd: Machinery and Equipment (USD mn) | 1,314.600 Mar 2021 | quarterly | Sep 2003 - Mar 2021 |
| Imports: Goods: ytd: Chemical Industry (USD mn) | 760.500 Mar 2021 | quarterly | Sep 2003 - Mar 2021 |
| Export Value Index (2015=100) | 148.600 2021 | yearly | 1995 - 2021 |
| Import Value Index (2015=100) | 138.228 2021 | yearly | 1995 - 2021 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 1.0 Dec 2018 | monthly | Dec 2003 - Dec 2018 |
| Household Debt: % of GDP (%) | 10.5 Sep 2025 | quarterly | Dec 2006 - Sep 2025 |
| Non-Performing Loans (USD mn) | 131.342 Nov 2025 | monthly | Dec 2014 - Nov 2025 |
| Money Supply M1 (USD mn) | 12,185.742 Dec 2025 | monthly | Nov 1993 - Dec 2025 |
| Money Supply M2 (USD mn) | 23,273.566 Dec 2025 | monthly | Nov 1993 - Dec 2025 |
| M2 Growth (%) | 25.1 Dec 2025 | monthly | Dec 1990 - Dec 2025 |
| Reserve Requirement Ratio (%) | 20.0 Jan 2026 | monthly | Jul 1998 - Jan 2026 |
| Foreign Exchange Reserves (USD mn) | 5,641.4 Jan 2026 | monthly | Dec 2002 - Jan 2026 |
| Foreign Exchange Reserves: % of GDP (%) | 5.975 Sep 2025 | quarterly | Dec 2009 - Sep 2025 |
| Foreign Exchange Reserves: Months of Import (NA) | 1.3 Nov 2025 | monthly | Dec 2002 - Nov 2025 |
| Gold Reserves (USD mn) | 8,630.484 Jan 2026 | monthly | Dec 2002 - Jan 2026 |
| Total Deposits (USD mn) | 29,728.942 Dec 2025 | monthly | Dec 2002 - Dec 2025 |
| Total Deposits Growth (%) | 13.8 Dec 2025 | monthly | Dec 2003 - Dec 2025 |
| Domestic Credit (USD mn) | 32,842.8 Dec 2025 | monthly | Dec 2006 - Dec 2025 |
| Domestic Credit Growth (%) | 11.6 Dec 2025 | monthly | Dec 2007 - Dec 2025 |
| Household Debt (USD mn) | 10,419.3 Dec 2025 | monthly | Dec 2006 - Dec 2025 |
| Total Loans (USD mn) | 33,038.309 Dec 2025 | monthly | Dec 2002 - Dec 2025 |
| Total Loans Growth (%) | 12.57 Dec 2025 | monthly | Dec 2003 - Dec 2025 |
| Private Debt: % of Nominal GDP (%) | 19.84 Sep 2025 | quarterly | Dec 2006 - Sep 2025 |
| International Reserve Assets: IMF Methodology: Foreign Currency Reserves (USD mn) | 5,641.286 Jan 2026 | monthly | Dec 2002 - Jan 2026 |
| International Reserve Assets: IMF Methodology (USD mn) | 15,702.843 Jan 2026 | monthly | Dec 2002 - Jan 2026 |
| International Reserve Assets: IMF Methodology: Monetary Gold (USD mn) | 8,630.484 Jan 2026 | monthly | Dec 2002 - Jan 2026 |
| International Reserve Assets: IMF Methodology: Other Assets (USD mn) | 0.100 Jan 2026 | monthly | Dec 2002 - Jan 2026 |
| Banking System Survey: Domestic Claims (BYN mn) | 95,332.724 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Banking System Survey: Domestic Claims: Claims on Other Sectors: Other Resident ... (BYN mn) | 30,244.176 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Money Supply: M3: M2: M1: M0 (BYN mn) | 14,481.430 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Money Supply: M3: M2 (BYN mn) | 67,556.180 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Money Supply: M3: M2: M1 (BYN mn) | 35,371.554 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Money Supply: M3 (BYN mn) | 103,030.851 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Bank Deposits (BYN mn) | 86,294.200 Dec 2025 | monthly | Dec 2004 - Dec 2025 |
| Bank Deposits: Private Sector (BYN mn) | 30,320.400 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Bank Deposits: Natural Persons (BYN mn) | 39,913.000 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Bank Loans (BYN mn) | 95,900.300 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Bank Loans: Natural Persons (BYN mn) | 29,792.600 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Bank Loans: Private Sector (BYN mn) | 28,211.200 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Bank Loans: Doubtful Debt (BYN mn) | 893.000 Dec 2025 | monthly | Dec 2014 - Dec 2025 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | -9.6 Aug 2014 | monthly | Dec 2006 - Aug 2014 |
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