Dmitry Medvedev introduced the concept of "key rate of the Bank of Russia"

UFA, 10 December 2015. /Bashinform News Agency, Galiya Nabieva/. Since 1 January 2016, the concept of "the key rate of the Bank of Russia" is introduced in the country. It will be applied in all respects, which are covered by the acts of the Government, instead of the term "refinancing rate". The corresponding decree was signed by the Russian Prime Minister Dmitry Medvedev.

This measure was conditioned by the changed role of the refinancing rate in the instruments of the Bank of Russia and the introduction of the key rate as the main indicator of monetary policy since September 13, 2013, the notion that previously had not been used in the Russian legislation.

The decision will contribute to the improvement of the regulatory framework in the field of monetary policy, according to the explanatory statement to the document.