The Bank of Russia will change the procedure for the entry into force of the key rate

The Bank of Russia will postpone the start of the changed key rate from Monday to Wednesday.

Meetings of the Board of Directors of the Bank of Russia on the key rate will be held on Fridays, and the new key rate will come into effect next Wednesday.

The Central Bank plans to bring the schedule of required reserve averaging periods closer to the schedule of meetings of the board of directors on the key rate to reduce the volatility of money market rates.

MOSCOW, August 31 - RIA Novosti. The Bank of Russia will postpone the start of the changed key rate from Monday to Wednesday, according to the draft main directions of the unified state monetary policy for 2027 and the period 2028 and 2029, published by the Central Bank of the Russian Federation.

“The procedure for applying rates on Bank of Russia operations will also change: meetings of the Board of Directors of the Bank of Russia on the key rate will continue to be held on Fridays, while the new key rate, if it changes, will begin to operate not on Monday, as now, but from the coming Wednesday, when settlements for the weekly auctions of the Bank of Russia will take place and a new PU (period of averaging of required reserves - ed.) will begin,” the materials say.