The rate coding hypothesis is the oldest and still one of the most accepted and investigated scenarios in neuronal activity analyses. However, the actual neuronal firing rate, while informally understood, can be mathematically defined in several different ways. These definitions yield distinct results; even their average values may differ dramatically for the simplest neuronal models. Such an inconsistency, together with the importance of "firing rate", motivates us to revisit the classical concept of the instantaneous firing rate. We confirm that different notions of firing rate can in fact be compatible, at least in terms of their averages, by carefully discerning the time instant at which the neuronal activity is observed. Two general cases are distinguished: either the inspection time is synchronised with a reference time or with the neuronal spiking. The statistical properties of the instantaneous firing rate, including parameter estimation, are analyzed and compatibility with the intuitively understood concept is demonstrated.The electric discharge activity of neurons is composed of stereotyped events called action potentials or spikes. The exact timing of spikes under identical external conditions may vary from trial to trial. Since the early days of neuroscience it has been often assumed that neurons express information about their input by employing mainly the average firing rate (frequency) of spikes. However, reliable firing rate statistics can be difficult to obtain in certain experiments or even in mathematical models. The reciprocal value of the interval between consecutive spikes -known as the instantaneous firing rate -offers the traditionally employed alternative. Although the physical dimension of the instantaneous rate is compatible with the firing frequency, the averages of the two quantities differ. In this paper we reconcile this tension by pointing to the crucial role of the reference time at which we inspect the spike pattern. We describe two possible scenarios: the classical one, in which the inspection is aligned with spikes (yielding the mentioned incompatible averages), and the asynchronous one, in which the inspection time is fixed to an external reference time (and the mean instantaneous firing rate generally equals the mean firing frequency).