Today, the National Bank of Belarus reduces the refinancing rate from 11% to 10.5% per annum. This is the first drop this year. Last year, the rate was reduced eight times. The decision was made by the regulator, quote: «Given the current and expected inflation, the ongoing economic recovery, as well as favorable trends in foreign markets». The National Bank of Belarus forecasts a reduction in the refinancing rate by the end of the year to 9.5-10.5% per annum.