National Bank to determine upper margin of interest rates on loans and deposits
On June 1st, 2015, banks will incur additional costs if they set deposit rates above 33% per annum or issue individual loans at a rate above 46% and corporate loans – above 40% per annum. With its decision, the National Bank intends to stimulate lending to the economy. As a result, interest rates in the banking system will reduce and deposits’ growth will slow down due to the weakening of the national currency in May 2015. In addition, the National Banks anticipates revitalisation of lending to the private sector in the national currency and reduction of net foreign currency sales due to conversion of rouble deposits into foreign currency. The rate on overnight loans is regulated by the National Bank and will continue to decline in the view of potentially negative reaction from the population to reduction in the yield from rouble deposited in the Belarusian banking system.
During searches of social and "green" activists and anarchists, law enforcement has seized computers, mobile phones and publications. The authorities have also exerted additional pressure on supporters of unauthorized street protests and independent lawyers, who represented defendants in the White Legion case. The security services have stepped up the persecution of opponents before the street protests announced by the opposition. Apparently, the Belarusian authorities aspire that participants in street protests would reduce in number and that the low interest of the population to socio-political agenda before the local election campaign would retain.