Assessment of the impact of external factors on the dynamics of the key rate of the Bank of Russia

The Bank of Russia sets the size of the key rate. Depending on this size, commercial banks set rates for the provision and attraction of funds of citizens and legal entities. That is, the value of money for economic agents is changing. Depending on this value of money, the behavior of economic entities aimed at saving or spending money changes. This article will examine how the monetary policy of the Bank of Russia has recently undergone gradual reform, and what influence external factors have on the dynamics of the key rate of the Bank of Russia.