The refinancing rate in Belarus dropped one more point, and now is 13% per annum. The decision was made by the Board of the National Bank in connection with the positive trends in the currency and deposit markets. The inflation significantly slowed down compared to December of last year, and as noted, fell by half. Noteworthy, the refinancing rate was reduced for the fifth time this year, from 17 to 13 points. Further developments will depend on inflation trends, the gold and foreign exchange reserves and the country's balance of payments.