Historical minimum. The refinancing rate in Belarus has been reduced to 10% per annum. Such indicator was only in effect twice, in 2006 and early 2008. Last time the rate was lowered four months ago, from 11 to 10 and a half percent. This was made possible by the low inflation level; it is expected that by the end of the year it will not exceed the forecasted 5 and a half percent. This is the effect of strengthening of the ruble against the basket of foreign currencies, among other factors. A reduction in the refinancing rate will also entail a reduction in the rates for new loans.