Two-thirds of Russians do not understand what a key rate is
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Today the Central Bank announced another solution at the key rate – it remains at 16% per annum. Meanwhile, as shown survey Analytical center NAFI, only a little more than a third (37%) of respondents understand the meaning of this financial term. The rest admitted that they could not describe in their own words what a key rate is. The most knowledgeable people were in the middle age group of 35–44 years (42%).
Let us recall that the key rate is the interest rate at which the central bank issues loans to commercial banks and accepts money from them for deposits. Its change affects demand through rates in the economy and, ultimately, inflation. This is also one of the tools that allows the Central Bank to control the ruble exchange rate. For more information about what a key rate is, how and what it affects, read “Kommersant” certificate.
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