Almaty. June 26. Kazakhstan Today - According to the Law of the Republic of Kazakhstan on National Bank of the Republic of Kazakhstan, the board of the National Bank decided to establish since July 1, 2008 the official rate of refinancing of the National Bank of Kazakhstan at the level of 10.5 % annual, the agency reports referring to the press service of the National Bank. "Decrease in the official rate of refinancing will lead to decrease of profitability in the financial market that will promote credit activity of the banking sector and, accordingly, growth of economy," the press service informs. According to the National Bank, in the second half of 2008 the National Bank expects slowing down of the annual inflation; as a result in the end of 2008 the level of official rate of refinancing will be positive in real expression. The previous value of the official rate of refinancing made 11.0 % annual.