Today, the refinancing rate is reduced to 17% per annum. Based on the decision of the National bank, loans for citizens and enterprises will get cheaper. Last year, the refinancing rate was reduced in 4 steps. Several factors influenced the decision on the recent reduction. Firstly, the inflation rate in 2016 was lower than forecast – 11,5%. Secondly, the incomes form deposits remain high. Thirdly, foreign currency in the internal market is in small demand.