(Reuters] Despite the acceleration in Belarusian inflation, Roman Golovchenko, Belarus’ Prime Minister said Wednesday that he believes interest rates will fall in his country after rate cuts from Russia’s central bank.

Belarus’ main interest rate is currently at 12%. This is below its annual inflation reading of 16.8%, which rose from 15.9% in March to 16.8%.

In an attempt to combat a growing economy and rising inflation, the Bank of Russia reduced its key interest rate from 17% to 14% in April.