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Russia Refinancing Rate Announcement

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RREFRANN:IND
8.25
0.00
0.00%
Previous Close
8.25
Previous Close
8.25
YTD Return
0.00%
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A target interest rate set by the central bank in its efforts to influence short-term interest rates as part of its monetary policy strategy. This indicator shows the new target interest rate on the date the new rate was announced. Before the Bank of Russia key rate was introduced in September 2013 ({RREFKANN Index DES<GO>} or {RREFKEYR Index DES<GO>}), this refinancing rate was commonly regarded as the main indicator of the monetary policy stance. However, even then its operational importance was low since the Bank of Russia provided only a small amount of funds at the refinancing rate. The Bank of Russia plans to adjust its refinancing rate to match the key rate level by 1 January 2016. Prior to this date it will only be of secondary importance. The transition period will be used to amend contracts and regulatory acts which involve the refinancing rate.
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