The refinancing rate is reduced to 9%, which is a historical minimum. This decision was made by the Board of the National Bank. The regulator explained this by the absence of external risks and the slowdown of inflation in the third quarter. Until the end of this year, it will not exceed five percent, the same is forecasted for 2020. The refinancing rate is used to calculate loans, which means that they will become cheaper. By the way, Belarusians increasingly prefer ruble loans to foreign currency loans. The National Bank expects that this trend will continue next year.