The article notes that the prevailing at the moment, monetary transmission mechanism and the traditional instruments of monetary policy can no longer effectively deal with the impact of the crisis and ensure sustained economic growth of the economy. The paper examines the challenges of monetary areas that now form the monetary "brake" of economic growth, as well as the need to change the transmission mechanism in the modern economy and its impact on the balance of the economic system. The article contains the analysis and comprehension of the system of investment and credit multiplier and its transformation in view of the objective of economic growth. The authors substantiate the necessity of the participation of the Central Bank in the financial growth with equity resources and mechanism to support the stability of the economic system.
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