REFINANCING RATE AS THE PRINCIPAL INSTRUMENT OF MONETARY-CREDITING REGULATION
The article dwells on the role of refinancing and its rate in the regulation of the volume of supply and monetary mass in the economy of the republic; implementation of bank and monetary-crediting policies of Tajikistan being taken into account as well. The author substantiates that refinancing rate is an instrument of the National Bank which affects the rates of an interbank market and also those ones referring to deposits of corporate bodies, natural persons and crediting resources delivered by respective organizations. The rate is also one of the methods of anti- inflation policy. The author analyzes the process of effectuation concerned with the goals of refinancing as obtaining of a new credit by financial mediators on authority of more profitable conditions aimed at a prolongation of crediting term.