Analysis of the effectiveness of interest rate policy of Bank of Russia in the framework of the inflation targeting regime

This article analyzes the impact of the interest rate policy of the Central Bank of the Russian Federation on key macroeconomic variables in the conditions of the inflation targeting regime. Based on the vector autoregressive model, a high degree of conductivity of the interest channel within the primary link of the monetary policy transmission mechanism and low efficiency of the monetary signals impact on the intermediate parameters of the monetary transmission were revealed.