Home  Journals  Financial Analytics: Science and Experience  4(374) - 2025 October-December

Interest rate regulation of economic activity in Russia

Received: 24 March 2025

Accepted: 22 April 2025

Available online: 27 November 2025

Subject Heading: MONITORING OF ECONOMIC PROCESSES

JEL Classification: Е40, Е43, Е47, Е49

Pages: 42-52

https://doi.org/10.24891/fxfbwi

Subject. This article discusses the interest rate regulation of economic activity in Russia.
Objectives. The article aims to describe the interest rate regulation of economic activity in Russia.
Methods. For the study, I used analysis and synthesis, special economic and mathematical methods, in particular, correlation and regression analysis, as well as a graphical method.
Results. The article identifies the main characteristics of interest rate regulation of economic activity in Russia. The article finds that it is difficult for the Bank of Russia to control inflation through changing the key interest rate. Despite the growth in lending to the non-financial sector and the issuance of debt securities to non-financial organizations, the economy is facing excessive debt. It is shown that the excess of the growth rate of household debt over the growth rate of lending to the non-financial sector causes overheating of the consumer market.
Conclusions. The identified characteristics of interest rate regulation of economic activity in Russia will be informative when forming fiscal policy, taking into account the disruption of the transmission mechanism of the monetary policy of the Bank of Russia, as well as the excessive growth of debt of non-financial organizations and households.

Keywords: debt, inflation, credit, interest, regulation

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