The article examines the impact of the monetary policy of the Central Bank of the Russian Federation (Bank of Russia) on the dynamics and structure of the non-resource sector of the Russian economy. Various monetary policy instruments, including interest rates, open market operations and bank lending, are analyzed from the point of view of their impact on investment activity, credit availability and the general economic situation in the non-resource sector. Particular attention is paid to studying the relationship between the money supply, inflation and economic growth in the context of the specific conditions of the Russian economy, characterized by dependence on commodity revenues. The results of the study allow us to identify the key factors that determine the effectiveness of the monetary policy of the Bank of Russia in the context of the development of the non-resource sector, and to offer recommendations for its optimization to ensure sustainable and balanced economic growth. The proposed recommendations can be used to improve the monetary regulation strategy and increase its contribution to the diversification of the Russian economy and increasing its resilience to external threats.
Natalya A. Odintsova (Wed,) studied this question.