The study looked at how changes in interest rates set by the Bank of Russia affect the interest rates that Russian banks charge on loans and deposits. The researchers found that when the central bank raises its rates, banks increase their loan rates faster than they lower them when the central bank cuts rates. This difference in response is seen in different parts of the banking market. The findings suggest that the way Russian banks adjust their interest rates to changes in central bank rates is similar to what is seen in other countries. This information can help the Bank of Russia make better decisions when setting interest rates to control inflation.