Belarus' central bank said on Feb 14, 2001 it will cut the refinancing rate to 75 percent annually from 80 percent, effective February 21. The central bank said the current rate, effective since December 1, 2000 was being cut due to slower inflation, expected to slow further in February and March 2001. "We made the decision...on the basis of actual and forecast inflation," a central bank statement said.

The central bank quoted preliminary data as showing inflation slowed to 4.8 percent in January