Comparative analysis of the influence of the key rate on the core indicators of the Russian Federation banking system

The article discusses the effect of the transmission mechanism of the Bank of Russia monetary policy, which can be implemented through interest, credit and other channels; the necessity of applying the inflation targeting is substantiated. It was proved that a change in the key rate, which is the main instrument of the Bank of Russia in the field of ensuring price stability, has a direct impact on the amount of financial resources available for both credit organizations and the non-financial sector and the population. Determining the quantitative effect of one factor on another is necessary for more precise achievement of the goals, which should be taken into account during preparing macroeconomic forecasts and deciding on a change in the key rate.