In a single state interest policy has its own unique structure. The main instruments of interest policy of the central bank are the basic refinancing rate and the rate of transactions in the financial market. The refinancing rate during the evolution of the monetary system has become more performance indicators, giving the economy a landmark value of the national currency in the medium term. Although, of course, can not deny the fact that the refinancing rate has a significant influence on the level of interest in the economy.

Interest rates on central bank operations in the financial market (hereinafter - the rate of Operations) - operational tool of interest policy. For him the bank conducts transactions in the financial market, refinance and