The article focuses on the effectiveness of the Central Bank of Russia's monetary policy instruments during the period of sanctions pressure on the country's economy. It examines the measures taken by the regulator to achieve inflation targets in the face of restrictions on international financial markets and commodity supplies. Special attention is given to the adaptation mechanisms employed by the Bank of Russia to minimize the negative consequences of sanctions and maintain the stability of the national currency. The study is based on an empirical analysis of macroeconomic indicators and statistical data provided by the Central Bank of the Russian Federation. The findings highlight the need for flexible monetary policy and active cooperation between regulatory authorities in order to successfully overcome crises and maintain sustainable economic growth.
Shishkin et al. (Thu,) studied this question.