The refinancing rate keeps on being reduced in Belarus. Since the 14-th of February it will go down a half percent and will make 10.5% per annum. This is a result of stability in the country's financial market, the National bank noted. Last year, the refinancing rate went down 8 times. This year, such a fall is unlikely to happen, yet, analysts expect a one percent reduction. The refinancing rate influences directly the loans and deposits market. The National Bank explained its decision to reduce the rate by regaining growth of the economy and favorable tendencies in the external market.